Tesla’s Model Y gets a $3,000 price cut

Photo by Hannes Breustedt/picture alliance via Getty Images

Tesla has lowered the purchase price of its Model Y by $3,000, so its Long Range AWD will now cost $49,990, Electrek reported. The Model Y just began shipping in March, and earlier this month Tesla reported better-than-expected delivery numbers for all its vehicles in the second quarter, so the reason for the price cut isn’t totally clear. But it’s likely to help boost sales at a time when all carmakers are feeling the pinch of the economic downturn.

Tesla cut prices on several vehicles in May, but the Model Y was not included in those reductions. It lowered the prices on the base models and Performance versions of the Model S and Model X by $5,000, and cut the prices on all versions of its Model 3 by $2,000 (with prices slightly...

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