Tesla has slashed the prices of the Model S and Model X by as much as $18,000

Bryan Logan/Business Insider

Tesla Model S.

• Tesla has slashed the prices of all its vehicles: the Model 3, Model S and Model X.
• The Model 3 will now start at $35,000, the company said in a blog post on Thursday.
• The Model S and X also got price cuts.

All of Tesla's three models got a price cut on Thursday.

The announcement of new discounts came amid the guidance that Tesla may not be profitable in the first quarter, as well as shifting to online-only sales and closing most of its 378 retail stores.

"Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected," the company said in a blog post.

Read more: Tesla is finally releasing the long-awaited $35,000 Model 3

Shares fell about 4% overnight into Friday morning as Wall Street investors digested the new outlook for Tesla's finances.

Here are the details of the price cuts:

Model S:

• Standard Range: Unchanged at $79,000 before incentives like state-specific tax rebates and gas savings
• Long range: now $83,000 before incentives. (Previously $96,000)
• Performance: now $99,000 before incentives (previously $112,000)
• Ludicrous Mode: now $$114,000 before incentives (previously $132,000)

Model X:

• Long Range: now $88,000 before incentives (previously $96,000)
• Performance: now $104,000 before incentives (previously $117,000)
• Ludicrous Mode: now $119,000 before incentives (previously $137,000)

More from Tesla's big announcement:

• Tesla is finally releasing the long-awaited $35,000 Model 3
• Tesla is shuttering most of its stores as the company switches to an online-only sales model
• Tesla has changed its Autopilot package - customers now have to pay more for some features
• More layoffs expected at Tesla as the company shutters most of its retail stores
• Elon Musk says Tesla will probably not be profitable in the first quarter of 2019
• Tesla's $35,000 Model 3 is coming - here's what Wall Street is saying
• Tesla stock slides after Elon Musk warns it won't be profitable in Q1

Get the latest Tesla stock price here.