Mercedes-Benz and Audi target Tesla with aggressive pricing on new electric models
Q4 e-tron and EQS coming later this year
Hood River Capital Management portfolio manager Brian Smoluch talks the best investments after Dow's longest losing streak since June 18.
Audi and Mercedes-Benz each released prices for new electric models this week that put them in a strong position to compete with Tesla as they expand their battery-powered offerings.
The all-wheel-drive Audi Q4 e-tron 40 compact SUV will have a starting price of $44,995, or $37,495 after deducting the federal tax credit it qualifies for. A more-powerful Q4 e-tron 50 and coupe-like Q4 Sportback e-tron 50 are listed at $50,995 ($43,495) and $53,795 ($46,295), respectively. All three undercutting the $53,990 Tesla Model Y Long Range, which is no longer eligible for the credit.
The Q4 e-tron 50s are rated at 241 miles per charge, however, which is far less than the Model Y's 326-mile rating. The Q4 e-tron 40 has not been officially rated yet, but will likely have a longer range than the Q4 e-tron 50s.
Meanwhile, Mercedes-Benz has priced its EQS full-size sedan to start at $103,360. The credit drops the price to $95,860, putting it close to the smaller $89,990 Tesla Model S Long Range, which is apparently sold out until next spring.
TESLA OPENS STORE ON TRIBAL LAND IN NEW MEXICO
The EPA-rated range for the EQS has not been released, but its European rating suggests it could be near 400 miles per charge. It will be available as either as the EQS 450+ with a 329 hp rear-wheel-drivetrain and a standard four-wheel-steering system or the EQS 580 4Matic with 419 hp and all-wheel-drive for $120,160 ($112,660).
GET FOX BUSINESS ON THE GO BY CLICKING HERE
All of the models are expected to be in showrooms by the end of this year.