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Tesla cuts $3,000 off the price of its Model Y SUV

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Tesla is cutting $3,000 off the price of its Model Y SUV. The electric sports utility vehicle now starts just under $50,000 for the long-range dual-motor version.

This comes after Tesla cut prices in may on several other models including the 3 and the X'

The company can apparently afford the price-cuts Tesla's stock has continued to beat records and closed Friday with shares surging 11 percent.

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