(Reuters) – Tesla Inc lower the value of its sport utility motor vehicle Model Y by $3,000, just 4 months after its start, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic.
The reduction follows selling price cuts in May perhaps on Tesla’s Model 3, Model X and Model S.
The corporation headed by Elon Musk this month posted a smaller-than-predicted tumble in car or truck deliveries in the second quarter, resilient success irrespective of the pandemic that strike the global auto business.
The Product Y now commences at $49,990, down approximately 6% from its previous rate of $52,990, in accordance to the carmaker’s web page.
Tesla did not promptly reply to a Reuters request for comment.
The enterprise started out deliveries of the Model Y in March, promising a much-awaited crossover that will encounter competition from European carmakers like Volkswagen AG rolling out their very own electrical rivals.
In April, Tesla had said the Model Y was presently worthwhile, marking the initially time in the company’s 17-yr heritage that one of its new automobiles turned a income in its to start with quarter.
(Reporting by Aishwarya Nair in Bengaluru and Hyunjoo Jin in Seoul Editing by Paul Simao and William Mallard)