Tesla is lowering the prices of the Model S and Model Y in the United States

Image credits: Tesla

Tesla has lowered prices for the Model S sedan and Model X SUV in the United States, according to the company’s website. This is the second time this year that Tesla has cut prices, and it may be an attempt to boost sales before the end of the quarter.

The all-wheel drive Model S is available now for $89,990, which is a 5.2% decrease or about $5,000 from $94,990. The S Plaid model is now $109,990, down 4.3% from $114,990.

Pricing for the all-wheel drive Model X will be $99,990, down 9.1% or $10,000 from $109,990. Plaid is now $109,990, down 8.3% from $119,990.

The latest price cut comes after Tesla cut prices significantly in January, making it at least the fifth time the automaker has cut the cost of its cars in the past several months. Last week at Tesla’s Investor Day, held at the company’s Austin plant, CEO Elon Musk and other leaders discussed the importance of efficient manufacturing and lower costs.

“The desire to own a Tesla is very high,” Musk said. “The limiting factor is their ability to pay for a Tesla.”

Tesla Models 3 and Y are still available for a $7,500 federal tax incentive in the US for the rest of this month.