![]() Lastly, the base model is offered with two rows that seat five occupants, while the Long Range offers an optional third row to seat up to seven.Īccording to Tesla, all Model Y variants, including the new Base model, are eligible for the full $7,500 tax credit. The automaker estimates a 0-60 mph time of 5 seconds, which is only slightly longer than the Long Range’s 4.8-second sprint. The base Y gets an EPA-estimated 279-mile maximum range compared to the Long Range’s 330-mile maximum. Like the Long Range, the base model comes with dual-motor all-wheel drive and gets a top speed of 135 mph, but the trade-off comes with the SUV’s maximum range. In addition to the lower prices seen across all existing models, the new base Model Y brings a starting price that’s thousands of dollars lower than the SUV’s previous entry point. What’s the New Base Model Y? 2022 Tesla Model Y | photo by Christian Lantry Below are the starting prices (including $1,390 destination fee) for all Tesla models as observed on April 10. The newly introduced base Model Y starts at $51,380 - $3,250 less than the Long Range variant. ![]() ![]() Meanwhile, the Model Y’s Long Range and Performance trims are each down $2,000 and starting prices for the Model S and X fall $5,000 and $10,000, respectively. Related: Tesla Slashes Prices as Much as 20% Across Lineup Prices Fall Yet AgainĪfter the latest round of price cuts, the Model 3’s base and Performance variants’ starting prices each dropped by $1,000, Automotive News reports. The move also precedes a change to the federal EV tax credit rules that will soon cut the Model 3’s maximum tax credit eligibility in half. The pricing tweaks come as Tesla reported increased deliveries in the first three months of 2023 but failed to meet its sales targets, according to Automotive News. After similar moves in late 2022 and early 2023, the automaker has cut prices yet again and has also introduced a more affordable base version for its bestselling Model Y SUV. Tesla, on the other hand, sets prices directly on its website with no negotiation, and changes those prices whenever it likes.In an effort to balance affordability, tax credit eligibility and demand, Tesla is once again adjusting prices on its entire range of electric vehicles. Most automakers set the suggested price for their vehicle by model year, and consumers then negotiate their actual price at a dealership. Analysts are watching to see which automakers respond by cutting prices and chasing market share.Īnd Tesla can move much faster to do that than its big rivals. More broadly, vehicle affordability is a major concern for the auto industry right now.Ĭompanies have been making extraordinary amounts of money as a vehicle shortage sent prices sky-high - but they also know they are driving away would-be buyers who simply can't pay $50,000 for a car (the average transaction price for a new vehicle these days is $49,507, according to the latest figures from Kelly Blue Book).Īs supply chain woes start to ease, the number of vehicles available for sale is starting to rise. That's a major factor driving Tesla's aggressive pricing, along with supply woes that are finally easing and the new government incentives that are kicking in. The price cuts comes as major automakers are releasing more electric vehicles, especially on the cheaper end of the market, cutting into Tesla's overwhelming dominance. The eligibility rules are set to change in March, and there's no guarantee the vehicles will still qualify - and no guarantee that a custom ordered vehicle will arrive before the rules change.Ĭustomers intent on getting a tax credit (for the Tesla or any other electric vehicle) may want to focus on vehicles available for purchase today, rather than waiting for an order. There is a caveat on those federal tax credits, though. In an aerial view, Tesla cars sit parked in a lot at the Tesla factory in Femont, Calif., on April 20, 2022. ![]()
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