Tesla executive: The new simplified Model Y will be "about 10% cheaper"

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According to media reports, on the 7th local time, the manager of Tesla’s Berlin factory in Germany stated that the new simplified Model Y will be “about 10% cheaper”.

As previously mentioned by WallstreetCN, in response to the potential impact of the termination of the U.S. federal tax credit policy, Tesla is taking proactive measures and plans to launch a more affordable Model Y.

Related reports say that as the U.S. federal tax credit policy of up to $7,500 ends this month, Tesla has introduced this cheaper model to offset the impact. The new model will have fewer features and use less premium materials.

This move comes as Tesla faces a critical moment of uncertainty in future demand. Although the company achieved record deliveries in the third quarter, this performance was partly driven by a “panic buying effect” before the tax credit policy expired.

This advance release of demand may put pressure on sales growth in the coming months, and launching a cheaper model is Tesla’s strategy to smooth out this transition.

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