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Why Tesla Took Off Standard Range Model Y From Its Offerings

Benzinga2021-02-23

Tesla Inc. is still offering the Model Y Standard Range, but only as an “off-the-menu” item, CEO Elon Musk said Monday.

What Happened: The electric vehicle maker made the move apparently due to the sport utility vehicle’s low range.

“It is still available off menu, but I don’t think the range, in many drive conditions, yet meets the Tesla standard of excellence,” Musk said on Twitter.

Why It Matters:As part of efforts to make some of its vehicles more affordable, Tesla had slashed the price of the base models of its Model 3 and Model Y vehicles last week. The company cut the price of the Model Y Standard Range by $2,000 to $39,990.

However, Electrek reported Sunday that the Palo Alto-based company has stopped taking orders for the vehicle and also removed the model from its online configurator.

The confusing moves on Tesla’s part come just over a month after it launched the Model Y Standard Range.

Tesla had originally announced the cheapest version of the Model Y in 2019, but Musk said at that time the company would not produce the Standard Range due to its “unacceptably low” range of less than 250 miles.

Price Action: Tesla shares closed more than 8% lower at $714.50 on Monday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • sham1990
    ·2021-02-24
    Buy the dip ! Strong notions being played here 
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  • sham1990
    ·2021-02-24
    Great news after a market correction recently 
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  • YiiYii
    ·2021-02-24
    Please help to like and comment. 
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    • YiiYii
      tks
      2021-02-24
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    • ravel
      ?
      2021-02-24
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  • Nicholasbt
    ·2021-02-24
    Missed the dip last night. ?
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  • FT585
    ·2021-02-24
    Like and comment. Thanks 
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    • jojojogate
      like and comment this
      2021-02-24
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  • weichwen
    ·2021-02-24
    Leaving comment for a like
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    • FT585
      ??
      2021-02-24
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  • ACEONG77
    ·2021-02-24
    sad
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  • raidou
    ·2021-02-24
    Like and comment please, thanks
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    • raidou
      Thanks thanks
      2021-02-27
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    • kopiosiudai
      done
      2021-02-24
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  • 神也是人
    ·2021-02-24
    ?
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  • ALT
    ·2021-02-24
    Please help to comment
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    • ALT
      Sure!
      2021-02-25
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    • zzcloud88zz
      Ok. can help me like & comment too?
      2021-02-24
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  • SilverSoul
    ·2021-02-24
    Grab it while its cheap now!
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    • Nicholasbt
      WIll it go lower today?
      2021-02-24
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  • Jdjejej
    ·2021-02-24
    [流淚] [流淚] [流淚] 
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  • WeiKeong
    ·2021-02-24
    Bitcoin drops a lot!
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    • Jojofi
      Erm
      2021-02-24
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    • Jojofi
      Buy!
      2021-02-24
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    • WeiKeong
      Bitcoin bitcoin
      2021-02-24
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  • Jojofi
    ·2021-02-24
    I like Tesla[得意] 
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  • Lim89
    ·2021-02-24
    Tesla 1000
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    • SilverSoul
      Go go go!!
      2021-02-24
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    • Hrms
      Upupup
      2021-02-24
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  • nakazatous
    ·2021-02-24
    Like my comment
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  • justusdk
    ·2021-02-24
    Buy time
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  • AntLiew
    ·2021-02-24
    Already got bitcoins
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  • KcKoh
    ·2021-02-24
    wow
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