Tesla recently once again adjusted its electric vehicle prices in the United States. This time, the changes concern the Model 3 and Model Y, while there are no changes to the Model S and Model X prices.
Let's recall that Tesla applied a major price reduction accross its lineup on January 12 (see details at the bottom of this post), and then increased the price of the Tesla Model Y Long Range AWD by $500 in late January.
Now, the entry-level Tesla Model 3 RWD becomes $500 less expensive, while the Tesla Model Y cars are a bit more expensive: the Long Range AWD version by $1,500, while the Performance version by $1,000.
Those are minor changes, announced after the government officially confirmed that the Tesla Model Y is eligible for $7,500 federal tax credit, under the Inflation Reduction Act of 2022 (IRA), with a price cap of $80,000. This concerns also other crossover/SUV models (Cadillac Lyriq, Ford Mustang Mach-E and Volkswagen ID.4 to name a few), which previously weren't always classified as SUVs, which limted the cap to $55,000.
Tesla officially says that all new Model 3/Model Y vehicles qualify for a $7,500 federal tax credit for eligible buyers.
"New Model 3 and Model Y vehicles qualify for a federal tax credit for eligible buyers. This credit amount is in effect for deliveries until March 2023."
In other words, if we subtract $7,500 from the Tesla Model 3/Model Y prices, customers are still getting an outstanding offer, compared to the prices in 2022.
Prices (*without DST and Order Fee):
Tesla Model 3:
- RWD: $43,490 (-$500 or -1.1% from $43,990)
- Long Range AWD: not available (expected to be available again in 2023)
- Performance: $53,990
Tesla Model S:
- Long Range AWD: $94,990
- Plaid: $114,990
Tesla Model X:
- Long Range AWD: $109,990
- Performance: $119,990
Tesla Model Y:
- Long Range AWD: $54,990 (+$1,500 or +2.8% from $53,490)
- AWD (Made-in-Texas, with 4680-type battery cells): price N/A
reportedly: $50,990 in existing inventory - Performance: $57,990 (+$1,000 or +1.8% from $56,990)
*Tesla adds Destination fee (DST) of $1,390 and Order Fee of $250 to all its models ($1,640 total).
For reference, here are the massive price reduction announced on January 12:
Prices as of January 12 (*without DST and Order Fee):
[in comparison with June 16, 2022]
Tesla Model 3:
- RWD: $43,990 (-$3,000 or -6.4% from $46,990)
- Long Range AWD: not available (expected to be available again in 2023)
[previously $57,990] - Performance: $53,990 (-$9,000 or -14.3% from $62,990)
Tesla Model S:
- Long Range AWD: $94,990 (-$10,000 or -9.5% from $104,990)
- Plaid: $114,990 (-$21,000 or -15.4% from $135,990)
Tesla Model X:
- Long Range AWD: $109,990 (-$11,000 or -9.1% from $120,990)
- Performance: $119,990 (-$19,000 or -13.7% from $138,990)
Tesla Model Y:
- Long Range AWD: $52,990 (-$13,000 or -19.7% from $65,990)
- AWD (Made-in-Texas, with 4680-type battery cells): price N/A
reportedly: $50,990 (-$11,000 or -17.7% from $61,990 in June 2022) in existing inventory, according to Drive Tesla Canada. - Performance: $56,990 (-$13,000 or -18.6% from $69,990)
