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        <title><![CDATA[Tesla knocks $5,000 off Model X price as coronavirus hurts demand]]></title>
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            <media:title type="html">Tesla knocks $5,000 off Model X price as coronavirus hurts demand</media:title>
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        <content:encoded><![CDATA[<p>Just call it the coronavirus discount.</p><p>Tesla this week cut the prices of its vehicles in North America as auto demand has taken a hit thanks to pandemic-related lockdowns across the region.</p><p>The Model X SUV, which was previously selling for $84,990, on Wednesday had its price reduced to $79,990. Tesla&#8217;s cheapest car, the Model 3 sedan, had $2,000 knocked off of its original price tag and now retails for $37,990.</p><p>Customers will have to pay up elsewhere, however: Tesla said its Supercharger quick-charging service will no longer be available free-of-charge to new buyers of those two vehicles.</p><p>Hopeful Tesla customers in China will also see a 4 percent price reduction for the Model X and Model S vehicles.</p><p>The price cuts come shortly after Tesla <strong>restarted its Fremont, Calif. factory</strong> following a weeks-long standoff with local authorities. CEO Elon Musk briefly defied a state lockdown order which had required the plant to cease operations.</p><p>Auto retail sales in the United States likely halved in April from a year earlier, according to data from J.D. Power. However, sales in May are likely to improve due to pent-up demand and incentives offered by most carmakers, the analytics firm said.</p><p>Automakers including General Motors, Ford and Fiat Chrysler, are offering 0 percent financing rates and deferred payment options for new purchases.</p><p>Factories in the United States started to reopen earlier this month with suppliers gearing up to support an auto industry employing nearly 1 million people.</p><p>Shares of Tesla were down slightly Wednesday morning, at $814.80.</p><p><em>With Post wires.</em></p>]]></content:encoded>
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