Tesla Model Y Prices Increase By $1,000

By automotive-mag.com 4 Min Read

All Tesla Model Y versions in the U.S. are $1,000 more expensive as Tesla applied the price change, which was announced two weeks ago. Prices of the other models remain unchanged.

As a result, the entry-level Tesla Model Y RWD starts at an MSRP of $44,990 (plus +$1,640 of obligatory fees), the Long Range AWD version at $49,990, and the Performance version at $53,490.

All Tesla Model Y cars qualify for the $7,500 federal tax credit. Because of that, the effective cost of the base version is $39,130.

The model’s pricing is very competitive among all-electric cars, which enabled it to take more than a third of the EV segment in January 2024.

Model Base Price Dest. Charge Tax Credit Effective Price
2024 Tesla Model Y RWD 19-in $44,990 +$1,640 $7,500 $39,130
2024 Tesla Model Y RWD 20-in $46,990 +$1,640 $7,500 $41,130
2024 Tesla Model Y Long Range AWD 19-in $49,990 +$1,640 $7,500 $44,130
2024 Tesla Model Y Long Range AWD 20-in $51,990 +$1,640 $7,500 $46,130
2024 Tesla Model Y Perf. LR AWD 21-in $53,490 +$1,640 $7,500 $47,630

* Tesla adds a Destination fee (DST) of $1,390 and an Order Fee of $250 to all its models ($1,640 total).

New orders are expected to be completed within a few weeks, as the company shows April 2024, indicating that there is no long queue of customers waiting for the cars like a few years ago.

Specs-wise, the Tesla Model Y offers an EPA driving range of up to 310 miles (Long Range AWD version).

Model Drive EPA
Range
0-60
mph
(sec)
Top
Speed
(mph)
2024 Tesla Model Y RWD 19-in RWD 260 mi* 6.6 135
2024 Tesla Model Y RWD 20-in RWD 242 mi* 6.6 135
2024 Tesla Model Y Long Range AWD 19-in AWD 310 mi* 4.8 135
2024 Tesla Model Y Long Range AWD 20-in AWD 292 mi* 4.8 135
2024 Tesla Model Y Perf. LR AWD 21-in AWD 279 mi* 3.5* 155

* EPA range according to Tesla; acceleration including rollout

As a side note, let’s note that the recent Tesla Model Y price increase was applied also in some other global markets.

For example, on April 1, 2024, Tesla increased the Model Y prices in China by nearly $700 (5,000 CNY) and ended some incentives: insurance subsidy (8,000 CNY or $1,100) and paint color cost reduction (10,000 CNY or almost $1,400). This means that in some cases, the total cost increased by $3,180 (23,000 CNY).

The price increase in China is very interesting because most of the other EV manufacturers appear to be cutting prices in an ongoing price war. Another thing is that Tesla’s largest EV factory, located in Shanghai, reportedly reduces production rates, but this news has yet to be verified.

Tesla is expected to release its global Q1 production and delivery numbers tomorrow (April 2), and within a week or two we should also see some numbers from China.

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