Tesla (TSLA) brings back rear-wheel Model Y at discounted price

Tesla Inc. (NASDAQ: TSLA) has reintroduced the rear-wheel-drive version of its Model Y crossover in the United States, following a third-quarter delivery report that didn't meet Wall Street's projections.

The Model Y, introduced for deliveries in March 2020, remains the top-selling model for the company. Tesla's website now lists the starting price for the rear-wheel-drive Model Y at $43,990, and it boasts a stated range of 242-260 miles.

Tesla has tweaked prices several times since the beginning of the year. In the third quarter, the company achieved global sales of 435,059 vehicles. To meet its annual target of 1.8 million units, Tesla will need to increase its sales pace over the next three months.

In the third quarter, Tesla produced over 430,000 vehicles and delivered over 435,000 vehicles. The decrease in sales volume was a result of scheduled factory downtime for planned upgrades, as detailed in the latest earnings call.

Shares of TSLA are down 1.60% in early trading on Tuesday.

By Michael Elkins | [email protected]

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