Tesla Slashes Model Y Crossover Price By $3,000

Tesla (TSLA) has slashed the price for its Model Y crossover by $3,000 to $49,990 from $52,990 previously. The move comes less than four months after Tesla started delivering the vehicle in mid-March.It is also not the first price cut of late. Tesla reduced the price for the Model S and the Model X by $5,000 and $2,000 respectively in May.The price cuts were viewed as an “acknowledgment that Tesla isn’t immune to material North American demand weakness,” commented Roth Capital analyst Craig Irwin at the time.However TSLA subsequently announced total 2Q deliveries of 90,650, well ahead of FactSet consensus …read more

Source:: Yahoo Finance