Photo credit: Tesla

Electric carmaker Tesla has cut the starting price of its Model Y vehicle by $3,000 in less than four months after it began selling the vehicle. According to Tesla’s website, the starting price of the Model Y is now $49,990, compared to $52,900 when deliveries kicked off in mid-March. The Model Y price cut is the second significant price cut that Tesla has made to its vehicles in a six-week period, with the company having chopped off $5,000 of the Model S and X vehicles and $2,000 off the Model 3 in late May.

Tesla didn’t provide a certain explanation as to why it reduced the price.