Tesla Inc cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic.
FILE PHOTO: The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson
- Tesla Inc cut the price of its sport utility vehicle Model Y by $3,000, just four months after its launch, as the U.S. electric carmaker seeks to maintain sales momentum in the COVID-19 pandemic.The company headed by Elon Musk this month posted a smaller-than-expected fall in car deliveries in the second quarter, resilient results despite the pandemic that hit the global auto industry.
The Model Y now starts at $49,990, down nearly 6% from its previous price of $52,990, according to the carmaker’s website.The company started deliveries of the Model Y in March, promising a much-awaited crossover that will face competition from European carmakers like Volkswagen AG rolling out their own electric rivals.
In April, Tesla had said the Model Y was already profitable, marking the first time in the company’s 17-year history that one of its new vehicles turned a profit in its first quarter. Reporting by Aishwarya Nair in Bengaluru and Hyunjoo Jin in Seoul; Editing by Paul Simao and William Mallard
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla cuts price of Model Y SUV by $3,000, Electrek saysU.S. electric carmaker Tesla Inc reduced the price of its sports utility vehicle Model Y by $3,000, Electrek https://bit.ly/327OJoV reported on Saturday.
Read more »
Tesla rival Rivian adds $2.5 billion investment led by T. Rowe PriceElectric vehicle startup Rivian, which is backed by Amazon and Ford Motor and aims to put an electric pickup and SUV in production in 2021, boosted its war chest further with a $2.5-billion investment round led by T. Rowe Price , Rivian said Friday.
Read more »
Rivian Snags $2.5 Billion From T. Rowe Price, Amazon To Take On Tesla In Electric TrucksThe fast-moving EV company has amassed $5.4 billion, the biggest cash hoard of any electric vehicle startup ahead of production.
Read more »
Rivian CEO Scaringe's aggressive plan to beat Tesla and Nikola with the first all-electric pickup and SUVRivian is expected to be among the first, if not the first, to bring an all-electric pickup to market early next year – months, potentially years, ahead of those key competitors.
Read more »
Boohoo's business model sparks debate on fast-fashion worker pay - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Valentina Sampaio Is the First Transgender Model to Grace Sports Illustrated's Swimsuit IssueValentina Sampaio is the first transgender model to grace Sports Illustrated's annual Swimsuit Issue, proudly making strides for the LGBTQ+ community.
Read more »