Tesla Model Y gets big price drop

Tesla Model Y gets big price drop

Bond Angle CEO Vicki Bryan told the outlet that the combined sales reports and move to cut the Model Y's price indicate that the vehicle is not profitable in the second quarter. The Product Y just began delivery in March, and before this thirty day period Tesla reported improved-than-envisioned shipping and delivery quantities for all its automobiles in the 2nd quarter, so the explanation for the selling price minimize is not totally crystal clear.

Instead of releasing the model created, Tesla developed another new "Standard Range Plus" version of the Model 3, which also has a slightly more extended range than the previous and starts at $38,000.

Entry-level Tesla Model Y SR RWD below $40,000 will not happen. The standard range version would simply have too little range, and therefore, according to Elon Musk, no right to exist. However a recent twitter conversation from Musk shows that that is no longer the case and that the Standard Range Model Y is no more.

After cutting the prices of Model 3, Model S, and Model X, by up to $5,000 in May, Tesla has now reduced the price of the Tesla Model Y crossover SUV by $3,000. As you can see, it's still on the table, and it will have a range of over 300 miles.

Doing range testing now. Extremely good for any EV, especially an SUV.

As for the reason, Musk said that the range would be below 250 miles EPA: "No, as range would be unacceptably low ( 250 mile EPA)". The planned, but now scrapped, standard-range version was going to start at $39,000.

Despite Tesla's gravity-defying surge so far in 2020, the stock has more room to run, according to a Monday note from Piper Sandler. The stock is now trading at 166 times estimated earnings over the next year, 20 times book value and seven times sales.

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