By Abhishek Sahani | Updated: July 27, 2020 14:56 IST

Cars

Tesla Model Y Electric SUV Starting Price Drop Of $3,000 Lower Due To COVID-19

Tesla Model Y Electric SUV Starting Price Drop Of $3,000 Lower Due To COVID-19

The American electric car manufacturing company Tesla has lowered the starting price of one more vehicle. This time it’s an SUV named Tesla Model Y, it is an electric SUV from the company that they have started shipping this March of 2020. The one-and-only long-range SUV with the all-wheel-drive version. The car is now listed on their official website, starting price of $49,990, or $3,000 lower than what it was before.

In the month of May 2020, The company Tesla has lowered some of the prices on the different models of electric cars, including high-end cars like the Tesla Model S sedan and the Tesla Model X SUV. This new pricing list comes for U.S. automakers because they are trying to attract more buyers. The economic fall because of the COVID-19 pandemic situation.

The old and big three companies from U.S. automakers, Ford, GM, and Fiat Chrysler Automobiles, are also offering 0% financing rates on their cars, in addition to negotiated or longer-term payment options, while other car manufacturers have also advertised some incentives and payment plans to attract new buyers and keep existing buyers from defaulting on loans.
At the beginning of this month, Tesla said it delivered 90,650 units of cars in this second quarter and a 4.8% decline due to the pandemic and delay in production at its primary U.S. factory for several weeks, but still better than many analysts expectations. Most of the deliveries, rather than 80,050, were Model 3 and Model Y, while the remaining 10,600 were its higher-end Model S and Model X.

All the different manufacturers in their different niches are affected because of this COVID-19 pandemic. Tesla is one of them, as many analysts have predicted more worst condition of the company. But then also the company has performed well in this quarter.
As all the car manufacturing companies are in the declined situation before the pandemic. And when the pandemic hits the world the condition becomes lower. Every car company is trying to attract their customers to come in there showrooms by giving many offers. Tesla is also set on this type of field by lowering the starting price of many of there models.
We hope that all the companies and world will recover soon from this COVID-19 pandemic situations.