Tesla is offering a significant price cut for the Model Y to help clear its stockpile of unsold electric vehicles in the United States.
If you are an electric vehicle enthusiast, this news will surely interest you. Here are all the details…
Tesla to sell its overstock vehicles at a loss
In the first quarter of 2024, 46,561 more Model Ys were produced than delivered. In response to this drop in demand, Tesla reduced the price of the rear-wheel drive version of the Model Y by $4600 and the price of the Long Range and Performance models by $5 thousand.
To stimulate sales, Tesla is offering drivers advanced driving assistance features such as automatic lane changing, automatic parking, and automatic stopping at traffic lights. The feature is available to drivers with the Full Autonomous Driving beta.
Tesla’s sales growth 2024 is expected to be lower than in previous years.
Tesla CEO Elon Musk has started mandating demos of the company’s advanced driver assistance system for all potential buyers. It can be interpreted as a move by Tesla to increase sales of this system and maintain its leading position in the electric vehicle market.
Tesla’s Model Y price cuts can be interpreted as an indicator of developments in the electric vehicle market. The reductions may indicate that interest in electric vehicles is waning, and Tesla needs to adopt a more aggressive pricing strategy to maintain its market share.
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