A New Tesla Just Got More Affordable

New Tesla S Price Drop

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* Tesla has lowered its Model S price by $7500
* This comes after Model S60 model discontinued
* All ahead of the Model 3, which will be released in July

Tesla has lowered the price on their flagship Model S car by $7500, making it a little bit easier for customers to get into one of their electric cars. With the price drop, the Model S is now available starting at $69,500.

The new price applies to the Model S75, which is now the cheapest model available after the company discontinued the Model S60. You’ll still get the bang for your buck, as the new model comes with upgraded equipment. Across all Model-S battery options there will now be an automatic powered rear lift gate and an all-glass overhead roof. However, certain upgrades will only occur at higher price-points, as the company wants to maintain a mix of buyers across price ranges.

While the Model S is the most affordable Tesla option for now, it will only hold that title until the much-anticipated Model 3 gets released later this year. Tesla head, Elon Musk, as already said that the Model 3 will be Tesla’s “budget-car,” while the Model S will continue on as the company’s flagship car.

This new pricing adjustments and announcement means that your money stretches farther for an entry-level vehicle. At the top of the range, however, prices will actually increase slightly, so average costs round out to about the same as before. This is all in anticipation for the Model 3, which is set to be unveiled in July.