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Tesla Model Y gets a $3,000 price cut, more affordable variant coming soon

Tesla has just made multiple changes to it’s Tesla Model Y compact electric SUV price, range, and options — the major one is the $3,000 price drop of the Tesla Model Y Long Range AWD variant, Tesla had lowered the prices of the entire lineup in late May except for the Model Y but now it gets its fair share of a ~6% price cut.

The new price of the Tesla Model Y Long Range All-Wheel-Drive is $49,990 down from the previous $52,990 USD, the Model Y just became a little bit more affordable but a Tesla Model 3 can be bought for as low as $37,990 holding the crown of the most affordable Tesla yet.

Tesla has also updated the Tesla Model Y Performance variant”s range to 291 miles (468 km) and removed the basic Performance version from the online configurator which was previously available with the 315-mile range rating, looks like the EPA website needs to be updated to show the latest range information after the changes.

The optional Performance Upgrade Package that included some extra upgrades for the Model Y Performance for no extra cost has now been included when ordering and the customer does not get the option to get a basic Performance variant, just the badass one that previously had a 280-mile range and just received an 11-mile bump with the latest changes.

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Arrival of the Tesla Model Y Single Motor Long Range in the near future

Tesla CEO Elon Musk while announcing the Model Y Long Range AWD price drop on Twitter said that the automaker is working on a more affordable Long Range version with a Rear-Wheel-Drive (RWD) single motor that will be launched in the next few months.

We have reduced pricing on Model Y LR dual motor & will offer a LR single motor Y in a few months, which improves affordability, while still keeping the product excellent.

Elon Musk on Twitter

In response to a tweet from a follower who guessed the price of the upcoming LR Single Motor Model Y would be around $45,000 — Elon Musk posted an eye emoji, this could be a subtle affirmation of the idea.

He gave some more hints about the possible range of this upcoming single motor Tesla Model Y SUV saying that it would be ‘significantly higher than 300 miles’, which should mean anything above the current Long Range AWD variant’s 315-mile range — 350 miles would be a great number for a more affordable Tesla Model Y, IMO.

Exciting times ahead for people willing to make a shift to the zero-emission electric vehicles but aren’t able to afford one right now, as the prices are now dropping at least for Tesla cars and with a smaller Tesla EV planned to be designed in Germany and the million-mile battery with lower costs coming to the market, EVs will become mainstream as these development unfold.

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By Iqtidar Ali

Iqtidar has been writing about Tesla, Elon Musk, and EVs for more than 3 years on XAutoWorld.com, many of his articles have been republished on CleanTechnica and InsideEVs, maintains a healthy relationship with the Tesla community across the Social Media sphere.

One reply on “Tesla Model Y gets a $3,000 price cut, more affordable variant coming soon”

This is great news for Model Y. Just wanted to comment on the recent changes to connectivity and how Tesla will now charge for connectivity on new models. I am going on my third Tesla (all brand new) and it is surprising that instead of being rewarded for loyalty, I have been slammed with a 9.99/mo charge while other people that were not early adopters back in 2012-2013 (used car buyers) get lifetime connectivity. Tesla should established a tenure-based ranking and reward loyal customers that have followed this experiment since it was nothing more than drawings and company shares were at $10.00.

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