Tesla Increases Price of Model Y Long Range in U.S.

model y price increase

Following some major price drops just 11 days ago, Tesla is already back to tweaking its prices.

The company’s entry Model Y Long Range has increased in price by $500 USD on Monday evening to now start at $53,490 USD, up from $52,990 USD. The Performance Model Y remains at $56,990 USD. We’re not seeing any price increases in Canada.

Back on January 12, Tesla dropped the price of the Model Y Long Range and Performance by $13,000 USD, as part of a slew of reductions across its vehicle line up.

It’s unclear what made Tesla increase the price by $500 USD. Time will tell if these new orders come with any vehicle improvements.

The Long Range Model Y has an estimated delivery of Jan-Mar 2023, and Performance is Jan-Feb 2023.

Along with price drops last time, Tesla also removed Midnight Silver Metallic as a free paint option, making it $1,000 USD again. The 7-seat option for Model Y also jumped to $4,000, up from $3,000 USD.

There’s currently a $7,500 USD federal tax credit for eligible Model 3 and Model Y buyers, available until March 2023.

Price caps for the tax incentive cap the Model Y with 5 seats to $55,000. This latest price increase takes any wheel upgrades for the Model Y Long Range to $55,490 USD ($2,000 extra for Induction wheels), therefore removing it from eligibility for the $7,500 tax credit. Boo!

Thanks James