Now Might Be the Right Time to Buy the Tesla Model Y

Tesla officially started delivering its highly anticipated Model Y crossover in March, leaving us both excited and skeptical of how it would perform. So far, the reviews on the Model Y have been mixed, to say the least. But if you have been seriously considering this trendy electric crossover, now might be the right time to buy. Tesla just slashed the Model Y’s price by almost 6%.

You can get the new Model Y for under 50K

Originally, the Model Y had a starting price of $52,990. With Tesla’s recent price drop, the crossover now starts at $49,990. This price drop follows the deductions Tesla made to the Model X, Model 3, and Model S vehicles in May. The Model Y price reduction comes as somewhat of a surprise though. Back in April, Tesla announced that the Model Y was profitable. This marked the first time the carmaker had a new vehicle return a profit within its first quarter. 

Tesla hasn’t commented yet on why the company decided to drop the price of the Model Y but it most likely has to do with the general struggles carmakers are experiencing amid the current economic climate. However, Tesla has actually fared better than most. Earlier this month, the carmaker announced that it delivered 90,650 vehicles in its second quarter. And even though Tesla’s Fremont, California plant was temporarily closed, the carmaker produced over 82,000 vehicles. 

RELATED: How is the Coronavirus Crisis Impacting the Electric Vehicle Market?

What makes the Model Y a standout

Tesla Model Y parked on road
2020 Tesla Model Y | Tesla

At this point, each of Tesla’s four models are standouts in their own way. However, the Model Y is a particularly ambitious model in Tesla’s vehicle lineup. The Model Y is a luxury-focused compact crossover designed to compete with traditional gas-driven vehicles like the Audi Q5  as well as electrified luxury models like the Jaguar I-Pace. Of course, the main appeal to the Model Y is its electric range. 

The Model Y currently features two trim options: the Long Range or the Performance trim level. These trim levels are nearly identical. The Long Range version has an electric range of about 316 miles and the Performance trim has an electric range of 315 miles. By choosing the Performance option, you get a Performance Upgrade Package that makes for a slightly smoother riding experience. Car and Driver specifically recommends the Long Range version which can go from 0 to 60 mph in 4.4 seconds. The budget-friendly Standard Range trim is expected to go into production in early 2021. 

RELATED: Tesla Model Y’s Quality Put to the Test with Surprising Results

On the inside of the Model Y

The Model Y trims available today can seat up to five people. The version with the additional third row that allows the Model Y to seat up to seven people will be available in 2021; the extra seating costs an additional $3,000. Overall, the Model Y stays true to Tesla’s clean design style. The Model Y’s standard faux leather upholstery is handsome enough, but the most notable feature inside is its massive 15-infotainment screen.