New Tesla Model Y Trim Drops Base Price to $45,380
Tesla’s pricing roller coaster jerks into another diving turn with the announcement of a new Model Y base trim. Starting at $45,380 (including $1,390 for delivery), the new trim level undercuts the next cheapest Model Y’s price by $6,500.
Related: Who Fits in the Tesla Model Y’s Third Row?
“Announcement” is the wrong word. Tesla doesn’t announce much regarding current products; new variations simply appear (or disappear) on its website. Either way, the new Model Y has just a single electric motor on the rear wheels and a claimed range of 260 miles. The next Model Y on the pricing ladder, the Long Range variant, has dual-motor all-wheel drive and a claimed range of 330 miles; it costs $51,880.
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Shop the 2023 Tesla Model Y near you
As its high roofline classifies the Model Y as an SUV, buyers are eligible for a maximum federal tax credit of $7,500 so long as the MSRP is below $80,000 and the vehicle meets certain criteria regarding production and the sourcing of batteries and raw materials. The Model Y satisfies these requirements, meaning this new variant has an effective price — come tax season — of just $37,880.
Tesla mastermind Elon Musk has said he is willing to sacrifice profits for growth, targeting a 50% annual increase in sales for the foreseeable future. This new trim prices the Model Y more directly against competitors like the Hyundai Ioniq 5, Kia EV6, Subaru Solterra, Toyota bZ4x and Volkswagen ID.4, so perhaps it will help further boost sales for the electric vehicle automaker.
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