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Tesla Begins Offering Model Y Test Drives

The move may be an interesting signal considering the history of Tesla's Model 3.
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As Tesla continues to ramp production on Model Y, they now appear ready to start raising awareness and driving demand for their newest vehicle. Tesla recently lowered prices on the Model Y by $3,000, and now Tesla Daily has received an email announcing availability of Model Y test drives.

Here is the email in its entirety:

Model Y is now on display in your local showroom and available to test drive.

With up to 316 miles of range, plenty of storage and versatile seating, Model Y is the ultimate combination of performance and utility. Explore updated pricing on all trims and experience an immersive view on your test drive with Model Y’s full-length glass roof. Learn more

Schedule a test drive with Model Y or experience our award-winning Model S, Model X or Model 3 during your visit with a self-guided appointment.

While bearish investors may interpret this news as a lack of demand, more bullish investors are likely to interpret the recent moves as a sign of accelerating production rates.

In the case of Tesla's Model 3, the company began offering test drives in July of 2018. In hindsight, this coincided with a significant increase in quarterly deliveries. In Q2-18, Tesla delivered 18,500 Model 3s, growing quarterly deliveries to 56,000 in Q3-18 after beginning test drives.

Screen Shot 2020-07-17 at 5.02.23 PM

While circumstances for the launch of Model 3 and Model Y are different, the Model 3's history is interesting to consider in this context nonetheless.

For more, please see the included video.

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Disclosure: Rob Maurer is long TSLA stock and derivatives.