Tesla Stops Taking Orders For Base Versions Of Model Y: Report

Tesla Inc TSLA has apparently stopped taking orders for the cheapest version of its Model Y, Electrek has reported.

What Happened: Electrek reported that Tesla has cancelled the midsize SUV in the latest in a series of confusing changes of direction over the vehicle. The company also has removed the model from its online configurator, Electrek said.

Tesla didn't communicate any reason behind this change.  

Why It Matters: The carmaker has been aiming to make some its vehicles more affordable. Earlier this month, Tesla slashed the price range of the base model of Model Y by $2,000 to $39,990. It also lowered the price of long-range AWD versions by $1,000 to $48,990.

See also: How to Invest in Tesla Stock

In January, Tesla cut prices of its European Model 3. In Germany, the Model 3 became up to 4,000 euros cheaper, and in France the price fell by as much as 6,000 euros.

It has been ramping up its deliveries as well, shipping 499,550 vehicles in 2020.  

Photo courtesy Tesla.

Market News and Data brought to you by Benzinga APIs
Posted In: Newselectric vehiclesElektrekElon MuskModel Y
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!