- Tesla has increased the prices of all three Model Y trims, which now range from $44,900 to $53,490.
- Despite the price increase, there are no reported changes to the features or performance of the Model Y variants.
- The increase isn’t limited to the U.S., with China also seeing a similar price bump for the Model Y.
Electric vehicle prices have been falling, but Tesla is bucking the trend with a $1,000 price increase on the Model Y. As a result, the entry-level variant now starts at $44,900 before incentives and credits.
The rear-wheel drive crossover isn’t the only one getting a price hike as the Model Y Dual Motor Long Range now begins at $49,990. The Model Y Performance also climbs $1,000 to start at $53,490.
Despite the price increase, there doesn’t appear to be any other changes. As a result, the rear-wheel drive variant still has a range of 260 miles (418 km). The model can also accelerate from 0-60 mph (0-96 km/h) in 6.6 seconds, before hitting a top speed of 135 mph (217 km).
The Model Y is the only vehicle being impacted by the price increase as the Model 3 continues to begin at $38,990. Likewise, the Model S starts at $74,990 while the Model X will set you back $79,990.
More: Tesla Slashes China Prices Amidst EV Wars, Raises Some In US
In their Q4 and FY 2023 Update, Tesla said they delivered over 1.2 million Model Ys in 2023, making it the “best-selling vehicle, of any kind, globally.” The automaker continued to stress that point by saying “For a long time, many doubted the viability of EVs. Today, the best-selling vehicle on the planet is an EV.”
Some of that success is due to the fact that the Model Y is built at plants across the globe. Besides the Fremont factory, the electric crossover is made in Texas, Berlin, and Shanghai.
Price Raises In China Too
In China, Tesla has raised prices for the Model Y by up to 1.9% or $700. The base model now starts at 263,900 yuan (approximately $36,500 at current exchange rates), up from 258,900 yuan ($35,800) at the end of March. Similarly, the dual-motor, all-wheel-drive Model Y Long Range Edition has experienced a 1.7% increase, rising from 299,900 yuan ($41,500) to 304,900 yuan ($42,200). Likewise, the dual-motor, all-wheel-drive Model Y Performance is now priced at 368,900 yuan ($51,000), reflecting a 1.4% increase from 363,900 ($50,300).
