Why Tesla Took Off Standard Range Model Y From Its Offerings

 

Tesla Inc. (Nasdaq: TSLA) 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.

See Also: Tesla Denies Development Of $25,000 Model 2 Vehicle In China: cnEVpost

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. 

No. Subject Date Views
61 Benzinga's Bulls And Bears Of The Week 2021.04.03 339
60 Financial performance - TESLA 2021.03.29 638
59 Financial performance - TESLA 2021.03.29 382
58 Why Tesla Stock Fell Sharply on Friday 2021.03.26 661
57 Why Tesla Stock Fell Sharply on Friday 2021.03.26 327
56 Jim Cramer has some thoughts on the markets. 2021.03.22 614
55 Jim Cramer has some thoughts on the markets. 2021.03.22 362
54 TSLA CALL OPTION $700.00 strike March 26, 2021. 2021.03.22 709
53 TSLA CALL OPTION $700.00 strike March 26, 2021. 2021.03.22 526
52 Billionaire investor Ron Baron’s firm sold 1.8 million Tesla shares 2021.03.04 696
51 Billionaire investor Ron Baron’s firm sold 1.8 million Tesla shares 2021.03.04 522
50 Why Tesla Took Off Standard Range Model Y From Its Offerings 2021.02.23 665
» Why Tesla Took Off Standard Range Model Y From Its Offerings 2021.02.23 396
48 Cathie Wood's ARK Invest Posts Fund Purchases For Monday, Feb. 22, 2021: DCYHF, FB, OPEN, SURF, RPTX, REGN, EXAS, CMLF, SGFY, U, TXG, TWTR, TSLA, SPOT, PYPL, BEAM, FATE, RAVN, EXPC 2021.02.22 1716
47 Cathie Wood's ARK Invest Posts Fund Purchases For Monday, Feb. 22, 2021: DCYHF, FB, OPEN, SURF, RPTX, REGN, EXAS, CMLF, SGFY, U, TXG, TWTR, TSLA, SPOT, PYPL, BEAM, FATE, RAVN, EXPC 2021.02.22 2018
46 Tesla, PG&E's Giant Battery Pack Project In California Is Almost Finished: Video 2021.02.22 699
45 Tesla, PG&E's Giant Battery Pack Project In California Is Almost Finished: Video 2021.02.22 407
44 Melvin Capital boss Gabe Plotkin is a bad guy 2021.02.18 645
43 Melvin Capital boss Gabe Plotkin is a bad guy 2021.02.18 667
42 Tesla's Unusual Options Activity 2021.02.17 673