Tesla's More Affordable Standard Range Model Y is a Recipe for Success
While 2020 was quite a challenging year, we can expect plenty of excitement from the electric vehicle segment in the New Year. Several high-profile electric vehicles are coming our way in 2021 and segment leader Tesla has decided to kick things off by launching one of the most anticipated variants of its Model Y crossover.
The Californian EV manufacturer recently launched the entry-level Standard Range variant of its Model Y crossover. Tesla has been selling the Model Y for almost a year now, but this is the first time that Tesla is offering a third-row 7-seat option for the electric crossover.
Prices for the Model Y Standard Range start at just $40,490, which further drops down to $34,190 for California residents after accounting for potential savings and gas incentives that now includes a new $1,500 clean fuel reward.
It's also worth noting that the Standard Range Model Y is only $1,490 more expensive than the $39,000 price tag Tesla originally announced back in 2019.
By reducing its starting price by $8,000, Tesla has made the Model Y more accessible to EV buyers. However, the more affordable Standard Range Model Y is only available in a rear-wheel-drive setup.
The new Model Y takes 5.3 seconds to accelerate from 0 to 60 mph and the top speed of the SUV is electronically limited to 135 mph.
For the first time, Tesla is offering a third row seat in the Model Y.
Per EPA estimates, the Standard Range can deliver 244 miles of range, not great but still respectable. Earlier last year, Tesla Chief Executive Elon Musk hinted that the company might not produce a Standard Range Model Y since its range would be "unacceptably low" by industry standards.
However with an estimated range of 244 miles the entry-level Model Y has surpassed Musk's original range estimate of 230 miles, but that still does not mean it will not reduce range anxiety amongst buyers.
It's expected that Tesla's competitively priced Model Y will perform exceptionally well in terms of sales. The Model Y remains a popular product in Tesla's current portfolio, as the demand for EVs and crossovers is at an all-time high.
With its net worth topping $800 billion, Tesla happens to be the world's most valuable automaker and its brand image is celebrated around the world, which may help to boost Model Y sales even further.
The savings become even more impressive when one considers that the dual-motor Long Range Model only offers 82 miles more than the standard Model Y.
Even with the challenges presented by the ongoing pandemic, Tesla claims that deliveries of Model Y Standard Range variants will begin within 2 to 5 weeks.
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