Tesla Introduces Affordable Model Y SUV in the US

Tesla has launched a cheaper variant of its Model Y in the U.S. after reporting a larger-than-expected drop in third-quarter deliveries. The new rear-wheel drive Model Y is priced at $43,990, $3,750 cheaper than the previous base model. Tesla's stock fell slightly following the news. The company delivered 435,059 vehicles in Q3, down 6% from the previous quarter, citing factory upgrades and high inventories as reasons for the decline. The introduction of a cheaper Model Y may help boost sales volume but could put pressure on selling prices and margins.