Tesla Lowers Price of Model Y with 7 Seats

Summary: 

• Tesla has reduced the price of the seven-seat upgrade for the Model Y by $1,000 in the U.S.
• While the seven-seat option launched originally launched for $3,000, Tesla hiked it up to $4,000 earlier this year.
• The automaker recently also discounted its entire Model Y lineup by $3,000 in the U.S.

Tesla has dropped the price of the seven-seat upgrade for its all-electric Model Y SUV in the U.S., from $4,000 USD to $3,000 (via Reddit).

The Model Y crossover comes with five seats as standard, but customers can upgrade to a seven-seat, three-row configuration. Adding a third row to the Model Y now costs 25% less.

The change comes after Tesla hiked the price of the third-row add-on from its original $3,000 to $4,000 earlier this year, and follows a string of recent price cuts the automaker has rolled out across the globe.

Since the beginning of this year, Tesla has repeatedly slashed prices across its entire lineup. Just last week, Tesla decreased the sticker price of the entry-level Model 3 by $2,000, and all Model Y trims by $3,000.

Tesla’s persistent price cuts are serving to not only bring its electric vehicles (EVs) closer to their pre-COVID-19 supply crunch sticker prices but also drumming up increased demand and consumer interest by undercutting rivals.

The $1,000 discount on the seven-seat Model Y currently only applies to the U.S., but stay tuned for updates in case Tesla rolls it out to other regions.