Tesla’s Model Y Inventory Prices Slashed by up to $7K
Tesla is dropping prices of unsold Model Y SUVs in the U.S. by thousands of dollars in an attempt to clear out an unprecedented backlog of inventory.
The discounts come as Tesla once again made far more vehicles than it sold in the last quarter.
The company built 433,371 vehicles in the first quarter but only shipped 386,810, likely adding more than 40,000 EVs to its inventory glut.
It announced a $1,000 price hike was coming to the Model Y, its most popular vehicle, on April 1.
He has largely blamed the struggle on high interest rates, all while his company dramatically cut prices on the Model Y and Model 3 throughout 2023.
