Tesla (TSLA) drops price of 7-seat Model Y option by $1,000

Electric auto company Tesla (NASDAQ: TSLA) has dropped the price of its 7-seat option for its Model Y to $3,000, down from $4,000 previously.

The standard Model Y includes five seats, but buyers can upgrade to an option for seven seats. The Model Y’s rear seats face forward, unlike the rear-facing seat option in the trunk of the original Model S. The seats are also foldable, so the cargo storage room is not affected by the presence of two extra seats.

Tesla describes the seven-seat option:

“Model Y provides maximum versatility – able to carry 7 passengers and their cargo. Each rear seat folds flat independently, creating flexible storage for skis, furniture, luggage and more. The liftgate opens to a low trunk floor that makes loading and unloading easy and quick.”

Tesla had originally priced the Model Y’s seven-seat option at $3,000 but then increased the price by $1,000 several months ago. The automaker has made choice to return the configuration to its original price and even appears to be offering retroactive pricing and adjusting current orders to reflect the new, lower price.

The cheapest seven-seat Model Y now sells for $53K in the US. The seven-seat option can’t be fitted on the cheapest Model Y Standard Range AWD, which starts at $47K, and can only be fitted on the Long Range model, which starts at $50K.

Shares of TSLA are up 1.43% in mid-day trading on Friday.

By Michael Elkins | [email protected]

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