Elon Musk reveals reduced price for Tesla Model Y in the United States

Tesla Announces $1,000 Price Cut on Model Y Until End of Month

Tesla has announced a $1,000 price cut on the Model Y until the end of the month. The discount will only be available for the rear-wheel drive and long-range versions of the Model Y in the US, with prices starting at $42,990 and $47,990. However, this is only a temporary discount, as prices are set to go back up on March 1.

The Model Y is Tesla’s most popular model and accounted for a third of all electric vehicle sales in the US last year. But despite its popularity, Tesla is facing competition from other electric vehicle manufacturers, particularly from Chinese automaker BYD which recently overtook Tesla as the world’s top seller of electric vehicles. As a result, Tesla is preparing to ramp up production of a more affordable mass-market electric vehicle code-named “Redwood.”

Tesla CEO Elon Musk warned investors about potential sales slowdown and informed workers that they can expect a difficult version of the company’s well-known “production hell.” With a push to make its cars cheaper and facing competitive threats, 2022 is a pivotal year for the automaker.

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