Tesla slashes Model Y price amid pandemic

Tesla slashes Model Y price amid pandemic

Tesla slashes Model Y price amid pandemic

Elon Musk has shared a render of Tesla's Gigafactory Berlin Brandenburg that will open in 2021 and be the automaker's first full vehicle factory in Europe.

Over the weekend, people noticed that the Model Y Standard Range was removed from Tesla's configuration page. Before launching Model Y, Elon Musk stated that the different versions of the electric SUV would be $5,000 more expensive of the same versions of Model 3.

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Tesla's shares have been growing at breakneck speed in 2020.

Tesla's mission is to transition the world to sustainable transport, and one of the best ways to do that is to make its highly desired products more accessible by lowering the price.

The price of the Model Y Performance dropped $1,000 to $61,190. Do you believe the only reason the Standard Range model isn't coming is due to poor range?

So should investors ring the register and take profits in Tesla after it surged as much as 328% year-to-date?

As for the pricing of the upcoming Long Range single-motor RWD model, Tesla's pattern suggests that this model will cost $4,000 less than the variant just above this.

The $3,000 price cut comes as Tesla seeks to maintain sales momentum in the COVID-19 pandemic.

The early run up to almost $1,800 a share added $24 billion to Tesla's stock market value. Electric auto profits are predicted to drop by 18 per cent, in accordance to Bloomberg New Electricity Finance.

Risks to Piper's bull thesis include production delays, failure to meet customer expectations, product defects and recalls, supply chain disruptions, and the slow adoption of electric cars. Buffett's net worth dropped last week after he gave away US$2.9 billion to charity.

Tesla produced 82,272 vehicles during the second quarter of 2020 and delivered 90,650, beating Wall Street expectations, despite the coronavirus pandemic and the massive toll lockdown restrictions have had on USA auto manufacturing.

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