Tesla Model Y variants, price: Elon Musk confirms plans for new Standard Range as SUV prices go down by $3,000

Tesla is changing its plans for the Model Y Standard Range variant. It was confirmed along with the announcement that, after roughly four months since its release, the electric SUV is now available at a discounted price.

Tesla scraps Model Y Standard Range but Elon Musk promises another variant is underway

A Tesla fan on Twitter was one of the first people to notice that the product information about the Tesla Model Y Standard Range was removed from the website. CEO Elon Musk confirmed that the said car variant is no longer in the pipeline, but not because the company is trying to lessen expenses.

Musk explained that they have dropped the original plans for the Tesla Model Y Standard Range because it would have had an “unacceptably low” range of less than 250 miles. In the same Twitter thread, Musk confirmed the price reduction on Tesla Model Y and promised that a Long Range single-motor electric SUV is in the pipeline. It makes sense for Tesla to cancel a Model Y if it would be released with less than 250 mile EPA range because that would have been much less than the capacity of the Standard Range Model 3.

Tesla Model Y price is reduced but people still want to wait a while before buying

This is not the first time Tesla has reduced prices of its vehicles this year since the global pandemic started. It can be recalled that the electric car maker was found cutting down the cost of Model 3, S, and X in May.

This is, however, the first time the Tesla Model Y is getting a price change. The Long Range and Performance variants of Tesla Model Y are now $3,000 cheaper as its price tags go down to $49,900 and $59,900, respectively.

Upon checking Tesla’s website, the earlier price reductions on Model 3, S, and X are still available. The entry-level electric car received a $2,000 price cut while the other two vehicles have been $5,000 cheaper since the sale started. This means the starting prices for Model 3, S, and X are now down to $37,990, $74,990, and $79,900.

People who are on a budget but want an ample Tesla vehicle might want to wait a while before buying. In the Twitter post mentioned above, Musk also announced that the planned single-motor Tesla Model Y will “[improve] affordability, while still keeping the product excellent” and it is eyed to be released “in a few months.” This suggests that it would be priced lower than the cheapest Model Y option right now, but Tesla has yet to give details about its specific pricing.