Tesla Motors Boosts Range, Power and Price of Entry-Level Model S

Electric car maker Tesla Motors (TSLA) is going after mainstream luxury car buyers by adding all-wheel-drive and more range and power to the base version of its only model.
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Electric car maker Tesla Motors (TSLA) is going after mainstream luxury car buyers by adding all-wheel-drive and more range and power to the base version of its only model. But the added features at the low end of the Model S lineup will come with about a 7 percent price increase, to $75,000 for those buying the cars. The base lease price will rise to $838 per month from $796. As of Wednesday, Tesla will stop selling the old base Model S called the 60. The $70,000 rear-drive car with a 380-horsepower motor could go 208 miles on a single charge and from zero to 60 mph in 5.9 seconds. The new all-wheel-drive model, called the 70-D, can go a government-certified 240 miles per charge, has 514 horsepower and can go from zero to 60 in 5.2 seconds. Buyers also get free access to Tesla's network of quick-charging stations. Tesla's next vehicle, the Model X SUV due out late this year, will be offered with similar features at the low end of the lineup, Musk said. Musk said he has no plans to spend more on marketing to match Mercedes and BMW even though he's going after more mass-market customers. The company will continue to host events for customers but "there are no plans yet to do advertising or endorsements or any discounting," Musk said.