Overview
- Tesla began handing over the new Model Y Standard to customers less than three weeks after its Oct. 8 launch.
- Lease deals were cut for roughly a week to $329 per month for Model 3 RWD, $449 for Model Y, and $699 for Cybertruck, with Tesla noting prices will revert on Nov. 1.
- Standard trims of Model 3 and Model Y undercut previous U.S. entry prices by about $5,000 to $5,500.
- Cost cuts come from a smaller battery and motor and the removal of features such as rear touchscreens, power-folding mirrors, and seat-side adjustment buttons, while keeping an advertised range near 321 miles.
- Analysts expect pressure on profit margins as Tesla trades price for volume and regulatory-credit income wanes, setting up a key test in the upcoming earnings report.