Tesla slashes Model Y SUV price as pandemic weighs on auto sector – Reuters

(Reuters) – Tesla Inc (TSLA.O) lower the value of its sport utility automobile Mannequin Y by $3,000, simply 4 months after its launch, because the U.S. electrical carmaker seeks to keep up gross sales momentum within the COVID-19 pandemic.

The discount follows worth cuts in Could on Tesla’s Mannequin 3, Mannequin X and Mannequin S.

The corporate headed by Elon Musk this month posted a smaller-than-expected fall in automotive deliveries within the second quarter, resilient outcomes regardless of the pandemic that hit the worldwide auto business.

The Mannequin Y now begins at $49,990, down practically 6% from its earlier worth of $52,990, in response to the carmaker’s web site.

Tesla didn’t instantly reply to a Reuters request for remark.

The corporate began deliveries of the Mannequin Y in March, promising a much-awaited crossover that may face competitors from European carmakers like Volkswagen AG (VOWG_p.DE) rolling out their very own electrical rivals.

In April, Tesla had stated the Mannequin Y was already worthwhile, marking the primary time within the firm’s 17-year historical past that one in all its new autos turned a revenue in its first quarter.

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