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Tesla’s Model Y has just received a $ 3,000 price cut

Tesla has reduced the purchase price of its Model Y by $ 3,000, so its Long Range AWD will now cost $ 49,990. Electrek reported. Model Y was only delivered in March, and earlier this month Tesla reported better than expected delivery figures for all vehicles in the second quarter, so the reason for the price cut is not entirely clear. But it will likely help increase sales at a time when all automakers are feeling the crisis of the economic downturn.

Tesla cut prices for multiple vehicles in May, but Model Y was not included in these discounts. It lowered prices for the base models and performance versions of the S and X models by $ 5,000 and lowered the prices for all versions of the 3 model by $ 2,000 (although prices for models 3 sold in China differ slightly).

Tesla announced on July 2 that despite the temporary closure of the Fremont, California facility, 80,050 Y and 3 vehicles and 10,600 S and X vehicles were delivered due to the coronavirus pandemic. This brought the total for the second quarter to 90,650 vehicles delivered, better than the 72,000 expected by Wall Street analysts.

Sales of all cars have increased significantly in recent months. The trend forecaster IHS Markit is forecasting a 22 percent decline in the global automotive market this year. According to Bloomberg New Energy Finance, sales of electric vehicles are expected to decrease by 18 percent. According to Edmunds.com, car sales rose slightly from May to June – around 3.3 percent – but fell 30 percent year over year, CNBC reported.

Tesla didn’t immediately respond to a request for comment on Sunday.

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