Tesla has decided to go against the grain of declining electric vehicle prices by implementing a $1,000 price hike on the Model Y, resulting in the entry-level variant now starting at $44,900 prior to incentives and credits.
This price increase isn't exclusive to the rear-wheel-drive crossover alone, as the Model Y Dual Motor Long Range now kicks off at $49,990, while the Model Y Performance sees a $1,000 uptick, starting at $53,490.
Despite the price adjustments, no other alterations appear to have been made. Consequently, the rear-wheel-drive variant maintains its range of 418 km. Additionally, the model still boasts a swift acceleration from 0-100 kph in 6.6 seconds, reaching a top speed of 217 km/h.
The Model Y stands as the sole vehicle affected by the price hike, with the Model 3 maintaining its starting price at $38,990. Similarly, the Model S begins at $74,990, and the Model X at $79,990. In their Q4 and FY 2023 Update, Tesla reported delivering over 1.2 million Model Ys in 2023, cementing its status as the "best-selling vehicle, of any kind, globally." Tesla emphasizes the significance of this achievement, highlighting how it underscores the viability of electric vehicles: "For a long time, many doubted the viability of EVs. Today, the best-selling vehicle on the planet is an EV."
A substantial portion of this success can be attributed to the Model Y's production at facilities worldwide. In addition to the Fremont factory, the electric crossover is manufactured in Texas, Berlin, and Shanghai. Notably, in China, Tesla has raised prices for the Model Y by up to 1.9% or $700. The base model now commences at approximately $36,500, up from $35,800 at the close of March. Similarly, the dual-motor, all-wheel-drive Model Y Long Range Edition has experienced a 1.7% increase, rising from $41,500 to $42,200. Likewise, the dual-motor, all-wheel-drive Model Y Performance is now priced at $51,000, reflecting a 1.4% increase from $50,300.