Tesla cuts SUV worth for Mannequin Y because the pandemic strains the automotive sector

© Reuters. The Tesla logo can be seen on a car in Los Angeles


(Reuters) – Tesla Inc (O 🙂 cut the price of its Sport Utility Vehicle Model Y by $ 3,000 just four months after its launch, as the U.S. electric car maker tries to maintain sales momentum in the COVID-19 pandemic.

The reduction takes place after price reductions in May for Tesla's Model 3, Model X and Model S.

The company, headed by Elon Musk this month, saw a less-than-expected drop in auto deliveries in the second quarter. This is a stable result despite the pandemic that has hit the global auto industry.

Model Y is now starting at $ 49,990, which is almost a 6% drop from the previous price of $ 52,990, according to the automaker's website.

Tesla did not immediately respond to a request from Reuters for comment.

The company started shipping the Model Y in March and promised an eagerly awaited crossover that will be exposed to competition from European automakers like Volkswagen AG (DE :), who are launching their own electric competitors.

In April, Tesla said that the Y model was already profitable. It was the first time in the company's 17-year history that one of its new vehicles made a profit in the first quarter.

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