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Tesla To Stop Selling Cheapest Versions Of Model S, Model X Cars

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Luxury electric car maker Tesla Inc. (TSLA) will stop selling the cheapest versions of the Model S sedan and Model X SUV from next week.

"Starting on Monday, Tesla will no longer be taking orders for the 75 kWh version of the Model S & X. If you'd like that version, please order by Sunday night …," Tesla CEO Elon Musk said on Twitter late Wednesday.

Compared to the Model 3, Tesla's newest model, the Model S and X are both higher-priced models. The 75 kWh version of the Model S starts at $76,000, while the 75 kWh Model X begins at $82,000.

The 75 kWh version of the Model S has a battery with a range of 259 miles, while the Mode X comes with a battery with a range of 237 miles.

Tesla will continue to make and sell the higher-priced versions of the Model S and X, which are equipped with 100 kWh batteries. As a result of the changes, the starting price for a Model S will be $94,000, while that for a Model X will be $97,000.

In reply to a query on Twitter whether the Model S and X are being phased out over the next one or two years, Elon Musk replied, "Definitely not."

In early January, Tesla said its fourth-quarter deliveries grew to 90,700 vehicles, which was 8 percent more than prior all time-high in the preceding third quarter. The company's production in the fourth quarter also grew 8 percent to 86,555 vehicles, compared to the prior all-time high in the third quarter.

Tesla also said at that time it is reducing the price of the Model S, Model X and Model 3 vehicles in the U.S. by $2,000, in order to partially absorb the reduction of the federal EV tax credit.

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