It also firmly positions the Model 3 as Tesla's budget-car and the Model S as the company's flagship vehicle, a distinction the company has been desperately trying to make more apparent over the past few weeks.
At the other end, pricing for both cars' 100-kwh versions are increasing.
"We expect our total average selling price to remain nearly exactly the same", Tesla said in a statement to press on Monday. The 75-kWh vehicle remains the only Model S to offer rear-wheel drive.
Tesla discontinued the 60 and 60D variants of the electric vehicle as of Monday. In its place, Model S 60 and Model S 70 owners are being prompted with a very welcomed surprise in the form of a heavily discounted offer for an 'unlockable' battery upgrade. While its discontinuation may sting, there's a bit of a silver lining - Tesla has announced that it will lower the price of upgrading 60kWh batteries to 75kWh.
The Model S 100D kicks off at $95,800, inclusive of destination fee, or $92,500 without the pre-selected, upgraded interior.More news: Samsung's Bixby Not Ready for English-Language Launch
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If you've been waiting to buy a Tesla, now may be the time. Model S 70 owners have also chimed in with their reports that Tesla is offering a 5 kWh range upgrade for just $500. That's just $1,500 more than the 60 kWh version, which has been discontinued. The sunroof option is still available on the Model S, at $2,000.
Although Tesla's Model S 100D lacks in performance in comparison to the P100D, the former model justifies for it with its range capabilities.
"Periodically we have adjusted pricing and available options to best reflect the value of our products and our customers' preferences", Tesla said today in a press release. The cheapest Model X, meanwhile, starts at $83,700 for the 75D.
If these new price drops entice you to order a Model S, you can use our referral code to save another $1,000 - bringing the base price of the Model S to $68,500.