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Tesla Model S price drops to $69,420, seven-seat Model Y coming soon

Never underestimate the power of dank memes.

2020's a weird year, man.
Manuel Carrillo III/Roadshow

It's barely been 24 hours since we reported that Tesla has cut the price of its Model S EV by $3,000 in the US, but already, CEO Elon Musk is slashing it once again, albeit for an… interesting reason.

Musk took to Twitter on Wednesday afternoon to announce that the Model S price will once again drop on Thursday. Its new MSRP is -- and I can't believe I'm actually writing this -- $69,420.


I mean, credit where it's due, Musk loves memes and this is definitely one of them. No matter how silly it is, though, this means a cheaper Model S for those looking to move to EVs, so it's a net benefit. The new MSRP represents a $2,570 haircut on the window sticker, bringing the weekly total for Model S price cuts to $5,570. That, too, is nice.

But that's not all. In a reply to another Twitter user, Musk said that production of the seven-seat Model Y compact crossover will commence in November, with the first round of deliveries taking place in early December. This half-Model 3, half-Model Y creation is currently only available with two rows, but it comes in both Long Range and Performance variants.

This model, too, has seen a price cut in recent months, meaning there's plenty of space for the three-row Model Y to land. It'll likely cost a bit more for that third row of seats, but it's still well under the Model X's base price, making it a very cost-effective way to fit seven people into an electric car.

Now playing: Watch this: 2021 Lucid Air vs. Tesla Model S: EVs go head-to-head