Tesla Slashes Model Y Pricing by $3,000

Image: Tesla

Tesla’s Model Y has only been on the market since March, but it’s already receiving a generous price cut. As spotted by Electrek, the compact-luxury SUV – which boasts an impressive range of 316 miles – can now be had for $49,990. That’s a $3,000 savings from its original sticker price! It isn’t clear why Tesla is doing this (sales and delivery numbers have been glowing), but this is great news nonetheless for prospective electric-vehicle owners.

The Model Y’s more powerful and sporty-looking “Performance” variant has also been reduced to $59,990, while its optional enhancement package – which brings a higher top speed, bigger wheels, and other perks – now comes standard as well. Here’s what that package comprises:

  • Increased top speed from 145 mph to 155 mph
  • 21’’ Überturbine Wheels
  • Performance Brakes
  • Lowered suspension
  • Aluminum alloy pedals

“This new configuration is in line with what Tesla did with the Model 3 Performance version,” noted Electrek. “For the base version, the Model Y Long Range Dual Motor, Tesla is reducing the price to $49,990. It’s a $3,000 price drop from the $52,990 price that the base version of the electric SUV had since its launch in March.”

“Now the same version of the Model 3 is only $3,000 less expensive than the Model Y, which was originally supposed to be about $5,000 more expensive than the smaller Model 3 depending on the configuration.”

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