Tesla Inc. (TSLA) dropped the prices of its Model Y electric SUV and Model 3 compact luxury sedan in April for the 2nd time. Earlier this month, Tesla introduced a new base Model Y with a price of almost $50K.
Now with today’s price drops, the base Model Y has become even more affordable. Tesla reduced the Model Y prices by $3K for all variants and now the base version starts at $46,990. The cheapest a Model Y ever became in the United States.
On the other end, the base variant of the Tesla Model 3 also became $2K cheaper which dropped its price to $39,990. When Elon Musk unveiled the Tesla Model 3 back in 2016, he promised an under $35K variant and it seems we’re getting closer to this price once again.
In this 2nd price drop of April, Tesla did not make any changes to the Model S and Model X prices. Let’s review the new prices of Tesla Model Y and Model 3 with the most recent price drop of April 2023.
Tesla Model Y New Prices
Tesla has made changes to the Model Y prices around 6 times till now in 2023. Tesla did not just drop the price of the base Model Y but the other two variants as well (Long Range AWD and Performance).
A Tesla Model Y Performance can now be bought for $53,990 which is just $1,000 above the price of a Model 3 Performance. This pricing seems interesting at this time but as we saw a leaked picture of the Next-gen Project Highland Tesla Model 3 recently, one should not be surprised.
The next design refresh of Model 3 may just be around the corner and with its launch, Tesla is going to certainly increase Model 3 prices.
Tesla also estimates delivery dates of Model Y within April and May. Perhaps, this also indicates higher production and lower demand.
Following are the latest prices after today’s drop:
- Tesla Model Y = $46,990 (previous: $49,990)
- Tesla Model Y Long Range AWD = $49,990 (previous: $52,990)
- Tesla Model Y Performance = $53,990 (previous: $56,990)
Tesla Model 3 New Prices
More interestingly, if you book a Tesla Model 3 today, the automaker estimates that your car will be delivered this month. There are only 11 days remaining in this month, so the stock must be adequate to supply new Model 3s to the customers.
Here are the new prices of the Tesla Model 3 as of 19th April 2023:
- Tesla Model 3 RWD = $39,990 (previous: $41,990)
- Tesla Model 3 Performance = $52,990 (previous: $53,990)
The amazing thing is that both Tesla Model 3 and Model Y qualify for the new $7,500 federal tax credit. If you’re eligible for this tax credit, the starting price of a Tesla Model 3 ideally would be $32,490 and the price of a Model Y base variant would be as low as $39,490.
You can read about the federal EV tax incentives and eligibility criteria on Tesla’s official support website here.
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