Tesla Cuts Price Of Model Y To Boost Sales Amid Pandemic

Tesla Model Y

News Tesla cuts Model Y price by $3000 as wide-scale efficiencies get realized Tesla Model Y

Every Model Y is equipped with hardware for the driver-assistance systems, which means owners can pay to activate the features after buying the vehicle, although Tesla usually charges more for the software after the auto has left the factory.

Tesla, which recently set a price record, shows a decline of 5.89% on the premarket on Thursday.

Tesla will be releasing a additional cheap Model Y in a rear-wheel-drive configuration that will have a array of in excess of 300 miles for each charge.

Vicki Bryan from Bond Angle stated regarding the decisions of Tesla with the Model Y that her concerns that there was no profit to be had from the Model Y were right.

The company started deliveries of the Model Y in March, promising a much-awaited crossover which will face competition from European carmakers like Volkswagen AG (DE:) rolling out their own electric rivals. The Standard Range version is expected for Tesla's Model 3. Tesla CEO Elon Musk has now confirmed this on Twitter in response to a user query on the matter.

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- Just four months after Tesla unveiled its Model Y sport utility vehicle, the electric carmaker announced it would slash the price of its newest product.

Musk subsequently mentioned that the Long Range single-motor RWD model will be available for purchase in a few months, though he didn't provide specific details on that front.

According to Electrek's point of view, this is an indication of good news and bad news.

Maybe the Model Y Standard Range was never intended for production from the beginning, just listed as something possible to lower the base price quoted by the media.

The five-seat Model Y Long Range has a range of 316 miles and a 0-60 mph time of 4.8 seconds.

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