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Tesla (NASDAQ:TSLA), an electric car manufacturer, has reduced the cost of its 7-seat Model Y option from $4,000 to $3,000 today.
Five seats are provided in the Model Y as standard. However, purchasers can upgrade to a seven-seat option. Unlike the option for rear-facing seats in the trunk of the original Model S, the back seats of the Model Y face forward. Additionally, the seats can be folded, so adding two extra seats does not impact the cargo storage space.
Tesla describes the seven-seat option:
“Model Y offers the most flexibility because it can accommodate 7 passengers and their luggage. Each rear seat may fold independently to create versatile storage for items like skis, furniture, luggage, etc.. The liftgate opens to a low trunk floor to facilitate and speed up loading and unloading.
The seven-seat version of the Model Y was initially priced at $3,000, but Tesla raised the price by $1,000 a few months ago. The company decided to reinstate the configuration’s previous price, and it even seems to be providing retroactive pricing and modifying current orders to reflect the new, reduced price.
The least expensive Model Y currently costs $53K in the US. Only the Long Range variant, which starts at $50K and is not the least costly Y Standard Range AWD, may be equipped with the seven-seat option.
Shares of TSLA are up 1.43% in mid-day trading on Friday.
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