The Tesla Model Y Is Now Cheaper Than Ever (2024)

FAQs

The Tesla Model Y Is Now Cheaper Than Ever? ›

Now the Model Y is even cheaper. Last week, the Model Y's starting price was $44,990 (or $37,490 after the full $7,500 US EV tax credit). Now, the Model Y's starting price is $42,990 (or $35,490 after the full $7,500 US EV tax credit).

The Model Y Long Range saw a gradual increase from $51,000 in March 2019 to $65,990 in Jan 2023, then decreased to $47,990 by April 2024. The Model Y SR - AWD & RWD price was stable at around $47,240 - $47,490 between April and May 2023, then decreased to $42,990 for both models by April 2024.

Just a few weeks into the second quarter of 2024, Tesla has decided to reduce the prices of three of its electric cars—Model S, Model X and Model Y—by $2,000 in the U.S. It now brings the Model Y alone to its lowest price ever.

The 2024 Tesla Model Y is a fully electric small crossover SUV. It comes in three main versions: Standard, Long Range and Performance. Midway through the model year, Tesla discontinued the Model Y Standard and revised the Long Range to be either Long Range Rear-Wheel Drive or Long Range All-Wheel Drive.

According to carsdirect.com, the depreciation for the Tesla Model Y can be significant, as it is in all car options from Tesla. Over five years, the value of the Tesla Model Y can depreciate as much as 50%, which is a huge number to consider for those who want to make money on their vehicle.

Tesla has cut its prices again in a number of major markets - including the US, China and Germany - as the electric car giant run by multi-billionaire Elon Musk faces falling sales. The move comes after it reported a sharp fall in its global vehicle deliveries in the first three months of this year.

Brand New Teslas Are More Affordable

Brand new Tesla Model 3s are more affordable than they've ever been. Some Teslas even qualify for the $7,500 federal tax credit. To encourage sales momentum, Tesla slashed prices by a good $15,000 at the end of 2023 and continues to cut prices and offer discounts to keep up demand.

Sales of the Tesla Model Y totaled 1.22 million units globally, up by 64% from 2022, or 480,000 more units than 2021—a result achieved by no other manufacturer before. Consequently, the Model Y managed to outsell traditional global top-sellers like Toyota's RAV4 and Corolla sedan.

Tesla's Model 3 is the cheapest Tesla car available. With the base model retailing for $40,380 , this car is Tesla's first attempt at a mass-market electric car to appeal to automobile shoppers of a wide range of budgets.

For instance, data collected by NimbleFins from owners shows that all models lose about 1% of range yearly. This means you should be able to charge the battery to 90% capacity after ten years.

How long will a Tesla Model Y last for? ›

So, how long do Tesla Model Ys last? You can expect your Model Y to live 300,000-500,000 miles if you take excellent care of the vehicle. This detailing means inside and out - the exterior design of the Model Y is problematic for many owners. The sooner you act with your car, the more life it will provide.

The U.S. Department of Energy uses 15,000 miles a year as its assumed standard range of annual driving for consumers, which would put Tesla's battery life at between 20 and 33 years. Assuming a single charge a day, that timeframe would involve between 7,300 and 12,045 charge cycles.

The Model 3 Long Range also has slighly better range than the Model Y Long Range. The standard Model Y has slightly better than the standard Model 3, though. Price: The Model Y is generally more expensive than the Model 3, reflecting its larger size and additional features like available third-row seating.

Price reductions after sales misses

The company blamed its misses on "the early phase of the production ramp of the updated Model 3" at its Fremont factory in California and "factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an arson attack at Gigafactory Berlin."

The automaker adjusted its range figures in response to changes to the Environmental Protection Agency testing cycle, which now requires automakers to test acceleration and ride height modes in “best and worst case scenarios” before averaging them, according to Drive Tesla.

Tesla prices have become more affordable, making them a great option for those interested in purchasing an electric car. In this article, we break down these 2024 Tesla costs: Buying a Tesla. Available customizations and Tesla accessories.

New figures show the Model Y dropped from first place in the table in May 2023 to 18th last month. Model Y sales fell by 49 percent to 10,582 according to Dataforce.

The price of the 2024 Tesla Model Y starts at $44,630 and goes up to $54,130 depending on the trim and options.

Critics say demand for the company's vehicles has slowed as a result of its failure to release a new, affordable model, as well as a softening in the overall EV market. As competitors roll out alternatives, Tesla faces a difficult path to regain its previous breakneck growth, analysts previously told ABC News.