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Tesla Model Y U.S. price increases by $500 to $53,490

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IT House news on January 24th, less than two weeks after launching a series of aggressive price reduction measures for its entire S3XY series,Tesla has made a small price increase of $500 for the dual-motor all-wheel drive version of the Model Y in the United States, and the car now starts at $53,490 (currently about 363,000 yuan).

Even with the $500 more starting price, the dual-motor all-wheel-drive version of the Model Y is still much more affordable in the U.S. than it was last year. Before Tesla slashed prices earlier this month, the crossover SUV was priced at $65,990 on the company’s official website.

Now the all-wheel-drive Model Y is still eligible for the US Inflation Reduction Act (IRA) tax credit of $7,500, and the price will be about $45,990.

The current starting price of $53,490 for the all-wheel-drive Model Y may discourage consumers from opting for more options, such as red multi-coat paint or 20-inch induction wheels. The price exceeds the $55,000 cap of the IRA.

The Tesla Model Y was already one of the best-selling vehicles in the U.S. last year, and that’s even at a price far higher than other vehicles. With its lower price, sales of the all-electric crossover are likely to increase significantly this year.

IT Home learned that the current prices of Tesla Model 3 and Model Y in mainland China are the lowest in the world, with Model 3 starting at only 229,900 yuan and Model Y starting at only 259,900 yuan.

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