Latest in Gear

Image credit: Tesla

Tesla drops Model Y price by $3,000

It's also giving Performance buyers a key upgrade as standard.
Jon Fingas, @jonfingas
July 11, 2020
1366 Shares
Share
Tweet
Share

Sponsored Links

Model Y
Tesla

Tesla just gave would-be Model Y buyers an unexpected treat: a sudden price drop. Electrek has discovered that Tesla lowered the cost of a Long Range AWD variant by $3,000 to $49,990 before taxes and incentives. The electric crossover still isn’t a trivial purchase at that price, but it might be easier to justify if the earlier price was just a little too hard to swallow.

There are perks if you’re willing to spend more, too. The Performance trim (priced at $59,990) now includes the previously optional Performance Package as standard. That nets you a higher 155MPH top speed, 21-inch wheels, upgraded brakes, a lowered suspension and aluminum alloy pedals. You will take a hit in range due to those wheels, down from 316 miles on the Long Range to 291 miles, but this saves you money if you were already set on getting a maxed-out Model Y.

We’ve asked Tesla for comment. A cut like this makes sense, though. Tesla has a habit of reducing prices as production and economies of scale improve, and the COVID-19 pandemic has had a disastrous effect on car sales — even if EVs represent a rare bright spot. Cuts like this, as well as earlier price drops for the Model S and Model X, could keep Model Y sales humming even as the pandemic continues and the car’s initial novelty wears off.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
1366 Shares
Share
Tweet
Share

Popular on Engadget

Engadget's 2020 Back-to-School Guide

Engadget's 2020 Back-to-School Guide

View
Our readers get real about their issues with the AirPods Pro

Our readers get real about their issues with the AirPods Pro

View
Space Force official logo and motto unveiled

Space Force official logo and motto unveiled

View
Microsoft's Surface Duo may launch with AT&T

Microsoft's Surface Duo may launch with AT&T

View
Disney has no idea what it's doing with 'Mulan'

Disney has no idea what it's doing with 'Mulan'

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr