Tesla is on a pricing-drop spree as the new year 2023 kicks off. The Austin, Texas-based automaker surprised its potential customers and the automotive world yesterday by introducing new prices that dropped by up to 20%.
Due to uncertainties, supply chain issues, and inflation, Tesla increased the price of its cars multiple times last year (2022). But all of a sudden, unexpectedly, Tesla introduced heavily discounted prices in North America and Europe.
Before this, Tesla introduced major price drops in China that also triggered protests by existing owners who had already purchased Tesla vehicles at higher prices.
The last time Tesla increased the price of its vehicles was in June 2022. After that, Tesla car prices remained mostly stable for the remainder of the year.
Let’s review each of the new Tesla vehicle prices separately below. We will only cover price changes in the United States in this post.
Tesla Model S New Prices
The price of the base variant of the flagship Tesla Model S luxury sedan went down around 10% and the top Model S Plaid variant received a ~15% drop in its price.
- Tesla Model S Long Range AWD: $94,990 (previous: $104,990)
- Tesla Model S Plaid: $114,990 (previous: $135,990)
With the attractive new price of the Tesla Model S Plaid, I wonder who would want to buy the base Model S? Perhaps, only those customers who have a strictly under $100K budget. The price difference between the two is also reduced
Buying a Tesla Model S Plaid instead of the Long Range version makes even more sense when the range difference between the two is only 9 miles (396 mi vs. 405 mi respectively).
The new $114,990 price of the Tesla Model S Plaid is the lowest it has ever been. Even lower than the May 2021 price of $119,990 which Tesla increased to $129,000 just before the first deliveries event in June 2021.
Tesla Model Y New Prices
Tesla Model Y midsize SUV crossover is Tesla’s most-sold vehicle in the entire current lineup and it has received the heaviest price cut as well. The new 2023 prices of the Model Y Long Range AWD and Model Y Performance dropped by around 20% for both variants.
Here’s the list of the new Tesla Model Y prices:
- Tesla Model Y Long Range AWD = $52,990 (previous: $65,990)
- Tesla Model Y Performance = $56,990 (previous: $69,990)
Tesla Model 3 New Prices
On the other end, the most affordable Tesla car, the Tesla Model 3 got a bit cheaper as well. While it didn’t receive massive price drops like the Model Y, the Model 3 Performance price did drop by about 10%.
However, in this age of inflation and recession, you can own a Tesla Model 3 Rear-Wheel Drive (RWD) for as low as $43,990 (a $3,000 drop). Tesla has temporarily discontinued
Here are the new prices of Tesla Model 3 with older ones in the brackets for comparison:
- Tesla Model 3 RWD = $43,990 (previous: $46,990)
- Tesla Model 3 Performance = $53,990 (previous: $62,990)
Tesla Model X New Prices
Tesla Model X Plaid SUV is the most expensive Tesla vehicle which has also received a significant price cut at the start of this year of about 14%. Here’s the list of the new Tesla Model X prices after the January 2023 drop:
- Tesla Model X AWD = $109,990 (previous: 120,990)
- Tesla Model X Plaid Tri-Motor AWD = $119,990 (previous: 138,990)
Related
- Tesla drops the prices of Model Y, Model S, and Model X by $2,000
- Tesla Spring Update (2024.14) to bring Enhanced UI, Auto Shift, Hands-Free Trunk, Rear Screen Off (Release Notes)
- Tesla rolls out FSD (Supervised) v12.3.4 to a wider user base — aggressive acceleration still persists, first impressions
- Tesla’s SVP of Engineering Drew Baglino and VP Rohan Patel leave the company amid news of 10% layoffs
- Tesla introduces Sport Seats for Model S Plaid designed for high G-force cornering
- The true story of how FSD V12 helped a Tesla owner reach hospital and saved his life
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