Tesla Stock Slides 5% While Its Model Y Deliveries Begin

UTC by Daria Rud · 3 min read
Tesla Stock Slides 5% While Its Model Y Deliveries Begin
Photo: Tesla

TSLA stock is down while the company started delivering its latest car models on March 13, ahead of the initial schedule of autumn 2020. Later, Tesla made an official announcement and presented a video of the Model Y. 

Tesla Inc (NASDAQ: TSLA) stock continues plunging. Yesterday, it closed at $445.07, 18.58% down from its previous close of $546.62. Today, it was trading at $448.40 in the early hours, with the day high reaching $456.12 later. At the moment of writing, Tesla stock makes up $417.16, which is 7% lower than during the early-hours trading. It is noteworthy that Tesla stock is plunging while the company’s Model Y deliveries begin in the U.S.

Tesla started delivering its latest car models on March 13, ahead of the initial schedule of autumn 2020. Later, the company made an official announcement and presented a video of the Model Y.

The car manufacturer believes that Model Y cars will be in high demand despite a global concern about the coronavirus spreading. At this point, Tesla’s Model Y deliveries begin in the U.S., with the production set for the east coast, but later, the geography will be expanded. Moreover, the company is planning to set a Tesla Cybertruck gigafactory in the central USA.

Model Y: More Details

Tesla’s Model Y is a crossover version of the Model 3, but it is bigger. It has a 187 inches length, 75.6 inches width, and 63.9 inches height. The wheelbase is 113.8 inches long, the ground clearance makes up 6.6 inches. Besides, Model Y is about 350 pounds heavier than the Model 3.

Further, Model Y boasts two configurations. The first one, Long Range, has a 316-mile (508 km) range and can speed up from 0 to 96.5 kilometers per hour (60 miles per hour) in only 4.8 seconds. The price of this Model Y version starts at $52,990. Another Performance version of the Model Y can go from 0 to 60 miles per hour in 3.5 seconds. Its full charge is enough to go 315 miles (507 km). The performance version starts at $60,990.

Model Y also boasts full self-driving capability and enables automatic driving on city streets and highways pending regulatory approval. There will be no problems with charging the car, as users can plug in along the way at any public station or with the Tesla charging network. Currently, there are over 16,000 Superchargers worldwide, with six new locations opening every week.

According to Tesla, Model Y is designed to be the safest vehicle in its class. With the low center of gravity, rigid body structure and large crumple zones, it provides unparalleled protection. Due to all-wheel drive dual motor, it is capable off-road and in any weather, should it be rain, snow, or mud.

As for the interior, Model Y is clean and simple. It has a 15-inch touch screen, immersive sound system and an expansive all-glass roof that creates extra headroom and provides a seamless view of the sky.

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Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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