Tesla introduces a new cheaper Model Y base variant, drops prices across all Model S, X, 3, & Y again

Tesla, Inc. (TSLA) has dropped the prices of its vehicle for the fourth consecutive time in the 4th month of 2023.

Tesla Model S and Model X received a $5,000 price reduction across all variants. Model 3&Y prices have also dropped comparably lower than the S&X (complete list of new prices below).

Tesla Model S prices were reduced by $5,000 for each variant in the last month’s drop, while the Model X received a massive $10,000 price reduction.

Let’s explore the new Tesla vehicle price drops from April 2023 and Model Y’s new base variant one by one below.

The New 2023 Tesla Model Y Base Variant and Reduced Prices

This time, an interesting development has taken place. The automaker has launched a new base variant of the Tesla Model Y electric SUV in an effort to make it a bit cheaper.

But this new base Model Y variant with a lower EPA estimated range of 279 miles is not a Rear-Wheel Drive (RWD), it’s still an All-Wheel Drive (AWD). The online Tesla car configurator labels this as simply “Tesla Model Y” without any explanatory suffixes to the name.

The automaker has set the price of this new base Tesla Model Y to $49,990. This is the lowest price of a Tesla Model Y AWD since its launch. In 2020, you could’ve bought a Model Y Long Range for the same amount of money.

I think this new Tesla Model Y is the same vehicle as the Long Range AWD version with a software-limited reduced range. A 279-mile range with a $3K lower price tag along with a potential $7,500 federal tax credit will certainly attract a new customer base toward the automaker.

Tesla is ready to deliver this new Tesla Model Y variant from April to May, this also suggests that this variant is range-limited via software with a lower price tag.

According to some reports, this is possibly a Giga Texas-made Model Y with 4680 cells and a structural battery pack. But we will know for sure only when it’s reviewed by a customer, stay tuned.

In 2021, Tesla launched a Model Y Standard Range RWD for a price tag of $41,990 in the US. But this cheapest-ever Model Y was offered for a brief period of time and Tesla retracted the variant soon after its launch.

Currently, Rear-Wheel Drive Model Y is only offered in Europe and the Asia Pacific regions.

For the Model Y Long Range AWD and Performance variants, Tesla dropped the price by $2,000 each.

Following are the updated prices of all the Tesla Model Y variants:

• Tesla Model Y = $49,990 (newly-launched)
• Tesla Model Y Long Range AWD = $52,990 (previous: $54,990)
• Tesla Model Y Performance = $56,990 (previous: $58,990)

Next price drop: Tesla drops the prices of Model Y and Model 3 for the 2nd time in April

Tesla Model 3 New Prices

Tesla Model 3 received the least amount of price drop this time as well. The prices of both the Model 3 RWD and Performance variants have dropped by $1,000.

Here are the new prices of the Tesla Model 3 as of 7th April 2023:

• Tesla Model 3 RWD = $41,990 (previous: $42,990)
• Tesla Model 3 Performance = $52,990 (previous: $53,990)

Tesla Model S New Prices

Here are the new Tesla Model S prices after the $5,000 reduction across all variants:

• Tesla Model S Long Range AWD: $84,990 (previous: $89,990)
• Tesla Model S Plaid: $104,990 (previous: $109,990)

Tesla Model X New Prices

Here are the new Tesla Model X prices after the $5,000 reduction across all variants:

• Tesla Model X AWD = $94,990 (previous: 99,990)
• Tesla Model X Plaid Tri-Motor AWD = $104,990 (previous: 109,990)

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