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Elon Musk Confirmed Tesla Model Y Price Reduction

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Tesla is changing plans for the Model Y Standard Range model. The price reduction of this electric SUV is official after announcement, nearly four months after its introduction.

A Tesla fan on Twitter was one of the first to notice that Tesla has removed Model Y Standard Range product information from the website. CEO Elon Musk has confirmed that the car variant is no longer in the pipeline, but not because the company is trying to reduce costs.

Musk clarified that they had scrapped the initial proposals for the Tesla Model Y Standard Range because it would have had an “unacceptably small” range of fewer than 250 miles.

Within the same Twitter post, Musk announced Tesla Model Y’s price cut and promised that a Long Range single-engine hybrid Vehicle will be in the pipeline. It makes sense for Tesla to cancel a Model Y if it would be released with less than 250 mile EPA range because that would have been much less than the capacity of the Standard Range Model 3.

Tesla Model Y Price Change

This is the first time that Tesla Model Y has made a price change. The Long Range and Output versions of Tesla Model Y are now $3,000 cheaper as their price tags dropped to $49,900 and $59,900, respectively.

After checking Tesla ‘s website, earlier price cuts for Model 3, S, and X are still available. The entry-level hybrid car has earned a $2,000 price cut, while the other two cars have been $5,000 cheaper since the sale began. This means that the starting rates for Model 3, S, and X are now down to $37,990, $74,990, and $79,900.

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