More Tesla Price Cuts
Throughout 2023, Tesla has adjusted prices of its vehicles as it chases an ambitious volume target of 1.8 million deliveries globally. Price drops typically come at the end of each quarter, and just in time for the holidays, the company has once again cut prices – but only for in-stock vehicles, not new orders. Still, if you’re willing to take possession of a brand new or demonstrator model Tesla before the end of the year, you could save thousands.
Tesla: Only In-Stock Models Get Reduced Prices
How much prices have been cut on each vehicle varies based on its age and trim level. Note that some demonstrator vehicles have thousands of miles, but also get the deepest discounts. The discounts are in addition to the $7,500 federal tax credit currently available for Model 3 and Model Y vehicles. The more expensive Model S and Model X are not eligible for tax credits as they exceed the government’s $80,000 MSRP price cap. (It’s also worth noting that for some Model 3 and Model Y versions, the federal incentive drops to $3,750 next year.)
Tesla Model 3 Pricing
Let’s start with the Model 3, Tesla’s best-selling mainstream sedan. Tesla’s inventory finder shows that base rear-wheel drive models now carry discounts of up to $2,700. The most affordable model now listed has a starting MSRP of $36,260 before incentives. The popular Long Range all-wheel drive model receives discounts of up to $3,300, with starting MSRPs from $43,230. The most expensive Model 3, the all-wheel drive Performance trim, has discounts of up to $3,700; starting MSRP is $47,420.
Tesla Model Y Price Cuts
The Model Y, Tesla’s best-selling vehicle and the best-selling vehicle in the world, receives a $3,000 discount for the base rear-wheel drive trim, meaning starting MSRP is now as low as $40,910. The most popular Long Range all-wheel drive model gets an average drop of $2,500; the most affordable all-wheel drive Model Y now has a starting MSRP of $46,540. With a starting MSRP of $49,870, the fastest model, the Model Y Performance, is now $2,700 cheaper than before.
Discounts for Model S and Model X
The bigger, more expensive, more luxurious Model S and Model X get even bigger discounts, although most of the vehicles listed on Tesla’s websites are demo models with mileage on them. Here is a quick summary:
- Base Model S sedan: discounts of up to $6,000, with lowest starting MSRP of $69,950
- Model S Plaid: discounts of up to $3,300
- Model X SUV: discounts of up to $6,300, with lowest starting MSRP of $75,660
- Model X Plaid: discounts of up to $3,800, with lowest starting MSRP of $93,190
Get a New Tesla for Under $30,000
All told, if you are in the market for a new electric car, these deals are hard to ignore. Factor in the federal tax credit and you might be able to score a rear-wheel drive Tesla Model 3 for under $3,000 U.S – on top of the savings you’ll enjoy on refueling costs.
Tesla’s latest price cuts also come in advance of the launch of the new Model 3 sedan, which we have already previewed, and what will no doubt be an updated Model Y in the coming months. The cuts are likely to affect pricing on used electric vehicles as the market responds. If you’re an EV shopper, they’re good news even if you’re not considering a Tesla.
