Tesla slashes Model S and Model X prices after recall

Tesla Inc. has once again reduced the price of the Model S and Model X, both of which were subject to a recent recall. The company notified the National Highway Traffic Safety Administration (NHTSA) in November of a recall for 15,664 units of the vehicles due to a problem with their airbags.<br><br>According to Tesla's website, the base Model S is now priced at $109,990 down from $119,990, while the top-of-the-line Model S Plaid is priced at $149,990, down from $159,990. <br><br>The base Model X is now priced at $114,990 down from $124,990, while the top-of-the-line Model X Plaid is priced at $154,990, down from $164,990.<br><br>Tesla's pricing changes have made several headlines in recent weeks. In January 2023, Tesla cut prices for its entire lineup, with some models dropping by as much as 20%. Then, in February, the company reduced the price of the Model S and Model X for the first time this year after failing to lower prices for the vehicles after the latest round of cuts.<br><br>Tesla CEO Elon Musk said in November that the company was "addressing the affordably problem for people," adding that Tesla was not immune to the economic hardships faced by consumers during the global economic downturn. <br><br>"I think there may be a recession in '23," Musk said. "I think a mild to moderate recession for 18 months. But I think it's a reasonable possibility that 2023 could be a recession year."<br><br>The reductions in the Model S and Model X prices come as the electric vehicle (EV) market becomes increasingly competitive with more manufacturers entering the market.<br><br>Tesla has not commented on the pricing change.<br><br>—This is a breaking news story and will be updated when more information becomes available—