Tesla, Inc. (TSLA) is starting to re-focus on its top-selling Model Y electric SUV in a move to cope with the drop in sales experienced in the 1st quarter of this year.
The automaker made two changes to the Tesla Model Y online order page in the last couple of days. Introduction of the Quicksilver paint option and increasing the price of the base Tesla Model Y RWD variant in the United States.
It’s amazing that despite the increasing popularity of the new Model 3 Highland and its Performance (Ludicrous) variant, Tesla opted to raise the price of the base Model Y by $2,000 and also increase its range.
Model Y Quicksilver in the US
Tesla first introduced the Quicksilver paint option in Europe in 2022. Quicksilver was exclusive to Giga Berlin at the time because of its newly-developed more advanced paint shop compared to Fremont factory and Giga Shanghai.
Tesla has definitely upgraded its Model Y paint shop at Giga Texas and probably the Fremont one too to offer the Quicksilver paint in the US. Tesla is not offering Quicksilver in Canada as of now because of China-imported Model Ys.
Now Tesla has brought the Quicksilver color to its customers in the United States. However, it comes with an interesting caveat — the Quicksilver paint option is only available on the Long Range AWD and Performance variants of the Tesla Model Y.
Even though Tesla has increased the price of the base RWD variant, the automaker is not offering the Quicksilver paint option for this version. In other words, Tesla is motivating customers to buy the mid and high-end variants.
When you select the Long Range AWD or Performance variants in the Tesla Model Y online configurator, the Quicksilver color option appears under the Paint choices tab.
The premium Quicksilver color costs an additional $2,000 for the Model Y Long Range and Performance variants.
The Quicksilver paint became an instant hit in Europe and helped boost the sales of the Giga Berlin-made Tesla Model Y EVs in the region. By introducing this color in the US, Tesla is attempting to create the same effect. The impact will start to appear in the next few weeks on the streets, social media, and finally in Tesla’s Q2 2024 delivery numbers.
Tesla Model Y RWD Price and Range Increase
Tesla unexpectedly raised the price of the base Model Y RWD variant. Tesla also increased the range of the Model Y RWD from 260 miles to 320 miles.
Now the base Tesla Model Y RWD is priced at $44,990 which was previously $42,990. It is just $3,000 less than the Model Y Long Range AWD which costs $47,990.
Compared to the price of the base Model 3 RWD (Highland), the base Model Y is $6,000 more expensive. Interestingly, the mid-tier Long Range AWD variant of both vehicles costs almost the same (Model 3 Long Range: $47,740 and Model Y Long Range: $47,990).
However, the new Model 3 Performance (Ludicrous) is $2,500 more expensive compared to the same variant of the Tesla Model Y. This is because the new Model 3 Performance comes with customized hardware and software (Track Model V3) while the Model Y Performance lacks these new upgrades.
The exciting information about the Tesla Model Y is that all three variants of this electric SUV qualify for the full $7,500 federal EV tax credit (for eligible individuals and families). While only the newly launched Model 3 Performance variant of the vehicle qualifies for the federal tax credit, the other two versions don’t.
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