SAN FRANCISCO, California – Tesla has announced a limited-time price reduction for its Model Y, available only until the end of this month. The electric car company has slashed prices for the Model Y RWD and Long Range AWD, but has also warned that prices will go up by $1,000 or more starting next month.
The price cuts apply to both the Model Y RWD and Long Range, with the discount marking a $1,000 reduction. However, the Model Y Performance is not included in the pricing shift. At present, the Tesla Model Y RWD starts at $42,990 before incentives, while the Long Range model starts at a price of $47,990. Additionally, the “Pricing Update” message is currently only displayed on the Model Y order configurator.
Buyers in the US may also be eligible for a $7,500 federal tax credit, which is instantly available upon purchase. Depending on the buyer’s location, additional tax credits may also be accessible, potentially leading to a substantial reduction in the purchase price.
It’s not just in the US where Tesla has been making price cuts. The company has also been reducing prices in other markets and has introduced a variety of incentives in North America in recent weeks. These include free transfers of the Full Self-Driving (FSD) beta, lifetime free Supercharging, and a $1,000 discount on new-vehicle purchases for early Cybertruck reservation holders.
While Tesla often offers end-of-quarter and end-of-year incentives to boost sales, this is the first time the company has made such a move mid-quarter. This pricing strategy comes as Tesla faces increasing competition in the electric vehicle market and aims to maintain its position as a leader in the industry.