Tesla has recently made changes to its Model Y lineup, dropping the Rear-Wheel Drive variant and introducing the Long Range RWD variant. The EV giant reduced the price of the Model Y RWD by $2,000 to $42,990, which was its lowest list price ever. The Long Range RWD will now start at $44,990.
The Model Y LR RWD offers a range of 320 miles, an improvement from the RWD’s 260 miles for an additional $2,000. Elon Musk announced on social media that recent RWD Model Y vehicles have extra range that can be unlocked for $1,500-$2,000. The Model Y LR All-Wheel Drive has a range of 310 miles but offers faster acceleration, starting at $47,990.
In addition to changes in pricing and model variants, Tesla also saw a jump in stock price, with shares rising 7.7% the previous week. This move above the 10-week line served as resistance in 2024 but is now seen as a positive sign for the company’s growth prospects. Despite this positive movement in stock price, there were concerns raised about Tesla’s strategy and long-term growth prospects after Elon Musk made changes within the company, including axing the Supercharger and new vehicles teams.
Tesla also introduced a new tax credit for its electric cars that will reduce the effective price of many models including the Long Range RWD variant to make it more affordable for consumers looking to switch to sustainable transportation options. With these changes in place and concerns addressed by Elon Musk about his vision for Tesla’s future growth prospects., Tesla seems well positioned to continue leading innovation in electric vehicle technology and shaping sustainable transportation options for generations to come