Tesla 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.
Tesla’s latest addition to its Model Y lineup is the Long Range RWD variant that offers a range of 320 miles, an improvement from the RWD’s 260 miles for an additional $2,000. This new variant makes it significantly cheaper than the Model 3 which starts at $38,990 for RWD and $47,740 for AWD. However, the Model 3 Performance, starting at $53,990, is eligible for tax credits that bring the effective price down to $46,490.
In addition to changes in pricing and model variants, Tesla also saw a jump in stock price. Shares rose by 7.7% in the previous week and moved above the 10-week line that had previously served as resistance in 2024. Despite this positive movement in stock price concerns were raised about Tesla’s strategy and long-term growth prospects after Elon Musk made changes within the company including axing both Supercharger and new vehicles teams.
