Tesla drops price on entry-level Model S

File Photo iStock/Thinkstock(NEW YORK) — Saving up for a Tesla? Good news: the company dropped the price on the entry-level Model S by $7,500. It now starts at $69,500 according to TechCrunch.

TechCrunch adds that the car comes with upgraded standard equipment, giving buyers better overall value. The standard features now include an all-glass overhead roof and an automatic powered rear lift gate.

The price dip applies to the 75 kilowatt per hour (kWh) vehicle after Tesla dropped its 60kWh model, which it recently discontinued selling.

A spokesperson for Tesla provided an official statement, which says the price decrease will be followed by increases on their 100D and P100D models. Those price increases will come into effect next week.

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