(Reuters) – Tesla launched a cheaper version of its Model Y vehicle in the United States on Tuesday.
The new long range rear-wheel drive version costs about $44,990, before a $7,500 federal tax credit, the electric vehicle maker’s website showed. Including the tax credit, the new vehicle will cost $37,490.
Reuters previously reported that Tesla’s plans for an affordable car included a stripped-down version of its best-selling electric SUV, but the production launch had been delayed.
Tesla’s Model Y long range all-wheel drive version in the U.S. did not see any cost adjustment and is priced at $48,990.
Tesla’s quarterly sales plunged 13% to the weakest in nearly three years, hurt by a backlash against CEO Elon Musk’s politics and rising global competition.
The company is scheduled to report second-quarter earnings in July. (This story has been corrected to say that Tesla will report second-quarter earnings, not third-quarter, and in July, not on July 23, in paragraph 6)
(Reporting by Disha Mishra in Bengaluru; Editing by Alan Barona)
