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Tesla Launches Cheaper Model Y Vehicle in the US

Reuters05-07

May 6 (Reuters) - Tesla launched a cheaper version of its Model Y vehicle in the United States on Tuesday.

The new long range rear-wheel drive version costs about $44,990, before a $7,500 federal tax credit, the electric vehicle makers' website showed. Including the tax credit, the new vehicle will cost $37,490.

Tesla shares gained 1.5% in overnight trading.

Reuters previously reported that Tesla's plans for an affordable car included a stripped-down version of its best-selling electric SUV, but the production launch had been delayed.

Tesla's Model Y long range all-wheel drive version in the U.S. did not see any cost adjustment and is priced at $48,990.

Tesla's quarterly sales plunged 13% to the weakest in nearly three years, hurt by a backlash against CEO Elon Musk's politics and rising global competition.

The company is scheduled to report third-quarter earnings on July 23.

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Comment1

  • a4xrbj1
    ·05-07
    I wouldn't call a car that cost over $37,000 cheaper but yeah, it's cheaper than the very pricey alternative. The world needs affordable EV's, like the Chinese are building but yet out of protectionism for an otherwise bankrupt car industry the rest of the developed world tries to stop those affordable cars from entering their market. I hope the new Slate EV wiil be a success in the US, coming in at a very affordable price of $25,000
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