Here's the new base price for Tesla's Model S and Model X

Tesla

The Tesla Model S.

• Tesla has introduced a new price tier for its Model S sedan and Model X SUV weeks after eliminating each vehicle's lowest-priced trim.
• The Model S now starts at $85,000 before federal and state incentives, while the Model X starts at $88,000.
• Customers can pay an additional $8,000 to extend the Model S' range from 310 miles to 335 miles and the Model X's range from 270 miles to 295 miles.

Tesla has introduced a new price tier for its Model S sedan and Model X SUV weeks after eliminating each vehicle's lowest-priced trim.

The Model S now starts at $85,000 before federal and state incentives, while the Model X starts at $88,000. Customers can pay an additional $8,000 to extend the Model S' range from 310 miles to 335 miles and the Model X's range from 270 miles to 295 miles.

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The new options come weeks after Tesla discontinued what were previously the least expensive versions of the Model S and Model X, which started at $76,000 and $82,000, before federal and state incentives, and had a range of 259 miles and 237 miles, respectively. In 2018, Tesla reduced the number of interior and exterior colors available for each vehicle.

Tesla has also reduced the number of hours it spends producing the Model S and Model X following layoffs that affected 7% of the automaker's employees.

Tesla will announce its earnings from the fourth quarter of 2018 on Wednesday. The automaker posted a surprise profit in the third quarter, and Tesla CEO Elon Musk said in January that the automaker's initial accounting indicated that it had also made a GAAP profit during the fourth quarter, though a smaller one than in the third quarter.

Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.

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