Tesla's back-to-back price cuts put sticker on US Model S below $70,000

Topics Tesla | Elon Musk

(Reuters) - Tesla Inc will further cut the price of its Model S "Long Range" sedan in the United States to $69,420, the electric carmaker's chief executive, Elon Musk, announced in a tweet on Wednesday. The anticipated drop marks the second time this week Tesla has cut the price for the high-end sedan, following a 4% cut of the Model S's price in the United States on Tuesday to $71,990. Tesla shares were up 3.

6% at $462.72 late on Wednesday afternoon. The company also on Tuesday reduced by 3% the price of its.

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