Tesla has dropped the price of the Model Y, Model S and Model X by $2,000 each in the US. Model 3 prices remain the same, as do prices of the newly-released Cybertruck.
Tesla has had quite the week, between firing 10% of its workforce and losing two key executives, filing to get CEO Elon Musk’s voided $55 billion pay package reinstated, and putting its upcoming $25k car on hold.
All this news comes after disappointing quarterly delivery results, with inventory rising to high levels.
Perhaps in anticipation of these poor delivery results, last quarter, Tesla put a “temporary” discount on the Model Y its most popular vehicle (and the world’s best-selling vehicle), lowering prices by $1,000 for just a few weeks. After that discount lapsed, it warned buyers ahead of time that prices would increase again by $1,000 at the end of the quarter.
Those prices did indeed increase on April 1 – but now, less than three weeks later, the price is back down again.
As of today, Tesla has dropped prices on all trims of its Model Y, along with the Model S and Model X as well.
The Model Y RWD now starts at $42,990, down from $44,990. Model Y Long Range is $47,990, when it was previously $49,990. Model Y Performance is now $51,490, previously $53,490.
This is equivalent to the price of the Model Y during Tesla’s temporary discount in February, which only lasted a couple weeks.
Tesla’s more expensive Model S and X vehicles are now cheaper as well. While $2,000 isn’t as big a chunk of either of their prices, they’ve got the same discount as the Model Y did, with $2k taken off of each trim.
The Model S Long Range now starts at $72,990 and Model S Plaid at $87,990, with the Model X Long Range starting at $77,990 and Model X Plaid at $92,990.
This also happens to be the lowest price for the Model X ever, which also qualifies for the federal tax credit and thus could cost as little as $70,490 upfront (assuming you’re under the income cap, which many buyers of that vehicle won’t be).
Tesla has not referred to this as a “temporary” discount, unlike it did with Model Y’s last discount. This seems to just be a standard random Tesla price cut, as we’ve seen quite often, especially in the last couple years.
The Model 3, which recently received a big refresh and is about to receive an updated “ludicrous” performance spec, still has the same purchase price as yesterday. However, as of two days ago, Tesla is now offering a $299/mo lease on the Model 3, whereas previously it had charged $329/mo.
Cheapest US Model Y ever?
At $42,990 base price, the Model Y is now a “$35k car” after taking into account federal EV incentives, which are now available upfront at point-of-sale.
This $35,490 post-incentive price is tied for the cheapest price for the Tesla Model Y in the US yet, though the previous time Model Ys were this cheap was considered a “temporary discount” by Tesla. It beats the previous “permanent” low price of $36,490.
Early on, Tesla had offered a Standard Range Model Y as low as $39,990, but at the time it did not qualify for the tax credit as Tesla’s credits under the previous law had run out. Plus, it only appeared on the site for orders for a couple weeks, showing up in early January 2021, then getting a price cut in February before being removed from the configurator a week later. It was supposedly still available “off menu” as a custom order for a while.
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Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
