Tesla’s Model Y is the latest SUV to have its price slashed

As the coronavirus pandemic continues to take a toll on the automotive industry, companies like Tesla are having to make some changes.

On Saturday, Reuters reported that Tesla has lowered the price of yet another one of its vehicles, the Model Y mid-sized SUV.

The Model Y, which was revealed back in March 2019, launched in March 2020 at $52,990 (Long Range model). According to Tesla’s website, the model is now offered at a starting price of $49,990 (before potential savings).

The nearly six percent decrease in price comes after Tesla lowered the Model 3, Model X, and Model S prices in May. In July, it was also revealed that although Tesla delivered more vehicles in Q2 than Q1, compared to the company’s production and deliveries stats for Q1, fewer vehicles were produced in Q2. (103,000 vehicles produced in Q1 and 82,272 produced in Q2.)

However, it’s worth noting that while the price of several Tesla models may be cheaper than they were at the start of 2020, in June Tesla announced yet another increase in the cost of its . Founder and CEO Elon Musk, tweeted that Tesla’s most luxurious, feature-packed upgrade package would be increasing by $1,000, and would cost $8,000 starting July 1.

There’s no doubt that the car industry is taking a major hit as a result of the coronavirus pandemic, but although companies have been slashing prices to help maintain sales, it’s clear Tesla isn’t afraid to bump up other auto-related costs like the FSD.