It also firmly positions the Model 3 as Tesla's budget-car and the Model S as the company's flagship auto, a distinction the company has been desperately trying to make more apparent over the past few weeks.
For those buyers who recently brought home a base Model S 60, Tesla is lowering the price of upgrades, trying to entice these customers to spend $2,000 to boost their cars from 60 kWh up to 75 kWh. And although the vehicle now costs less, Tesla added some new features on the standard level, including a panoramic glass roof and an automatic rear power liftgate. The 75-kWh auto remains the only Model S to offer rear-wheel drive. That version of the Model S, which offers 249 miles of range on a single charge, is now Tesla's least expensive model.
For owners of the 70 kWh Model S, an upgrade to 75 kWh can be had for $500, though only face lifted Model S 70 models were made with the larger battery pack, which means early-build models can't be upgraded.
Tesla has also made some other changes.
Tesla also reduced the price to "unlock" additional battery capacity in some of its older models.More news: Harper's blast lifts Nationals over Phillies
Tesla Motors will officially move into the realm of affordability for thousands of drivers later this year when the Model 3 hits public roads.
As for those price increases, we can expect to see jumps for many of Tesla's higher-end vehicles.
These changes seem to represent a streamlining of Tesla's offerings before the release of the Model 3. And the base price of $69,500 is just about double what the Model 3's base price is expected to be, and probably close to what a maxed-out Model 3 will end up costing.
"Periodically, we have adjusted pricing and available options to best reflect the value of our products and our customers' preferences", Tesla told Cars.com in an emailed statement. These price hikes don't take effect until April 24, so buyers have one more week to take advantage of these slightly lower prices.