Telsa Slashes Price of Latest Model Y SUV


Tech World

July 13, 2020, 11:54 a.m.

Tesla, an American electric vehicle and clean energy company has slashed down the price on its Model Y midsize SUV as reported by Reuters on Saturday, in the wake of the Coronavirus pandemic.

The Model Y which was revealed in March 2019, was launched in March 2020 at $52,990.

According to Tesla's website, the model is now being offered at a starting price of $49,990.

The company also lowered the Model 3, Model X, and Model S prices in May. In July, the automobile company delivered 90,650 vehicles in the second quarter, a 4.8% decrease in production due to the pandemic and suspension of production at its main U.S. factory for several weeks.

Most of the deliveries were Model 3 and Model Y, summing up to a total of 80,050 while the remaining 10,600 were its higher-end Model S and Model X.

Though Tesla models may be cheaper than before, it announced an increase in cost in June with regards to its Full Self-driving(FSD) package.

Founder and CEO Elon Musk, tweeted that Tesla's most luxurious, feature-packed upgrade package would be increasing by $1,000, and would cost $8,000 starting July 1.

There's no doubt that the car industry is taking a major hit as a result of the Coronavirus pandemic, but although companies have been slashing prices to help maintain sales, it's clear Tesla isn't afraid to increase other auto-related costs like the FSD.

Automakers like Ford, GM and Fiat Chrysler Automobiles, are offering 0% financing rates, in addition to deferred or longer-term payment options, while other automakers have also announced incentives and payment plans to appeal to new buyers and keep existing owners from defaulting on loans.

Do you have an article that can be relevant to the African Tech space?

Submit your news stories, articles or press releases to editor@digitaltimes.africa


tag: Automobile, SUV, Telsa,


Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.