In a recent report, it has been revealed that Tesla is looking to clear out some of their Model Y inventory. The starting price of the Model Y has been reduced to $46,990, which is below the new car average in the U.S. by about $759, making it an enticing option for prospective buyers. The price cut has been attributed to an upcoming super-secret update and a surplus of inventory.
The variation in prices between the high and low of the Model Y is significant, with a difference of $20,000 between the high and low, Bloomberg reports.. This price reduction is unprecedented, and no other automaker has made such a dramatic reduction to a high-volume vehicle in the modern age of the automobile. However, some people are concerned about Tesla's profit margins, while others view it as a great opportunity to purchase a Model Y at an affordable price.
What's even more attractive about the Model Y is that it qualifies for the full $7,500 federal tax credit, unlike some other EVs, despite Tesla expecting to lose the tax credit for the Model Y. This may lead some automakers to reconsider their investment in electric vehicles, as Tesla's aggressive pricing strategies may intimidate competitors.
Despite the reduced price of the Model Y, buyers may be concerned that the new inventory consists only of the higher-priced trims. However, there are new Model Ys available not far from the base price of $46,990 within 200 miles of New York City, suggesting that there is inventory available for purchase.
Overall, this is an exciting time for those looking to purchase an electric vehicle, and the Tesla Model Y is an excellent option for those interested in buying a high-quality vehicle at an affordable price. With the added bonus of the full federal tax credit, it's no wonder why Tesla is looking to clear out its inventory.
Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.
