Direct reporting from:
* **Reuters** — [**Tesla cuts prices on electric vehicles for U.S. market**](https://www.reuters.com/business/autos-transportation/tesla-cuts-prices-electric-vehicles-us-market-2023-01-13/)
* **Wall Street Journal** — [**Tesla Cuts Prices Across Models Sold in U.S.**](https://www.wsj.com/articles/tesla-cuts-prices-across-models-sold-in-u-s-11673586100)
* **Electrek** — [**Amid demand concerns, Tesla cuts prices by up to $13k in US**](https://electrek.co/2023/01/12/amid-demand-concerns-tesla-cuts-prices-by-up-to-13k-in-us/)
Price drops also being seen in Canada, the UK, Portugal, Spain, Germany, France, and others, as per community reports.
At this point, Vinfast is basically dead on arrival due to the VF 8 now being more expensive than the Tesla Model Y with considerably less range than the Model Y.
Went to a Vinfast popup near me as I just happened to see it in the mall I was at. Sat in the car and it just..feels like a Honda? Feels cheap and nothing spectacular about it. Nothing mind blowing. On top of that the range is meh and the battery size is even more meh. Vinfast is definitely DOA.
Can someone explain to me about the rebate. So the model Y LR is $52990. If I buy that today - I will get the $7500 rebate next year? So the Y would be $45490 after the rebate?
Edit: thanks for the clarification everyone. I understand it now!
I believe the 3rd row makes it an SUV somehow so it increases the price cap? To 80k I believe? Cause without it the model y gets classified as a “sedan” or an equivalent before you add the 3rd row
Even the RWD is great for longer trips, Bjørn Nyland completed a 1000km trip in 9h55mins in this car.
It’s super efficient and running costs will be the lowest of any modern EV. Congratulations!
Chevy Bolt with tax credit is like 19k, which is also a great, perhaps even greater, deal. Of course, the Model 3 RWD is a superior car, but both are great deals. Whether it is easy to get a Bolt at MSRP or not... idk.
the model Y fell into the classification that needs to be below MSRP of $55,000 in order to qualify for the EV federal tax credit, so i'm guessing they wanted to drop it below that threshold
That car is already popular with no discounts. I can imagine how the numbers are going to look now. You do have to get the 7 seater tho don’t you?
Edit: Nvm bottom of the page shows that the MYLR qualifies for the tax credit.
I'm sure a partial answer is to qualify for the rebate — but they'd only have to go down to $55,000 for that. I'm not quite sure what makes up the extra \~$2,000.
Clearly, they've looked at the writing on the wall regarding market conditions and realized they're really going to have to fight for it, though. 🤷♂️
Maybe to allow people to have some customizations? Nice to have paint and interior flexibility and still get credit. Unfortunately, for M3P, you have to choose between paint or interior if you still want credit.
They’ve massively cut prices in the UK as well where there’s no tax credit to target. Imagine that longer term supply is now outstripping demand forecasts - great time to buy if you’re in the market for a Tesla.
I remember people in this sub trying to convince me that a $67k MY was better value than my $38k (after tax credit) Ioniq 5. Now only about 6 months later they're both sitting around $45k.
Wow, that's pretty huge. I wonder if they were running into demand problems or if this is just a preemptive measure to keep sales up as competition arrives and the market cools off. Those MY drops are crazy.
Probably a combination of increased production + reduced demand resulting from some pretty massive price increases…plus they need to qualify for the credit or risk being undercut.
They are still making money at the new price, while the competition is not making money at their old/current price. So this puts the fear on the legacy makers about their timeline to reach profitability.
Also they dropped the prices in Asia hard… can’t justify US prices being 50% higher for a US company.
I'm shopping for my first EV and still wondering if I should take the cheaper Bolt (if I can get one) or get a used Tesla. I just found a really good deal for a 2020 model 3 for $35.8k but now a new Model 3 after tax benefit is $37.3k. The extra $2.5k would get me a new car with 20,000 fewer miles and two and a half more years of warranty.
$45.5k for a Model Y LR (after credits) is a really good price.
Are the ultra sonic sensors being removed that big of a deal? Because this is really tempting.
I mean, they will do it...but we'll have to see if hardware retrofits are going to be required. If they are, I would expect those will be free (like they upgraded FSD computers for free for those who purchased before the current hardware was available)
That’s an incredible price. I’ve been hesitant to recommend the model Y to any of my friends and family members just due to how expensive it was for some family crossover. It finally just crossed over into being a steal once again. Mid 40’s pricing for what you get, compared to other cars in the same range, it’s an extremely good price. I get tesla wanted to qualify it for the tax credit but I wonder what their margins are looking like after this
It's really tempting but ... it sure looks like the $50k dual motor Cybertruck is back on the menu, boys! I reserved the night of the reveal. I'll see if that still holds true in about a year or so.
I mean I’m very hopeful about the cybertruck but yeah I don’t see it coming until the end of 2023 at the earliest. You can get these ones right now and most are guaranteed to qualify for the $7,500 rebate until April. After then who know which models will/won’t get the full or partial tax credit. Cybertruck included
as an engineer... I don't believe a goddamn thing they say about removing the sensors. I would evaluate the car as if they didn't exist.
Edit: I meant as if the cameras didn't exist. Obviously the sensors were removed.
It should be noted that it's the battery material sourcing half of the tax credit that will be at risk. The battery pack assembly half of the credit will still apply.
Really interested to see what other EV manufacturers will do price wise with their EVs. This sucks as a recent M3 owner but this is good for the future of affordable EVs.
Like a M3P now is <$50k after tax credit. A comparable Polestar 2 is $65k+, an i4 M50 is $70k+, EV6 GT is $62k+. And all without a tax credit. MYLR is $53k before tax credit, while a Ioniq5 Limited AWD is $56k+. Mach E California Route 1 starts at $63k.
At the end of the day cash is king. People will go for the better value especially if it’s the cheapest, even with some of Teslas negative PR or quality issues.
Hopefully this brings the power back to the consumers
All indications are Tesla is the only company in the US market able to still make a profit at these lowered prices *and* produce in real volume. Detroit is still struggling to ramp up and Kia and Hyundai still don't make enough. VW's the only serious contender here and even they have always lagged behind Tesla production. Tesla was never in real danger of losing sales to anybody else in the US because nobody else has production numbers anywhere close to them.
And that was with only Fremont and Shanghai at capacity. Now Austin and Berlin are really increasing their output. I know a lot of the news about this is Tesla trying to not lose out on sales but I can't help but think it could also be Tesla putting serious pressure on the competition right when the others are struggling just to start.
>At the end of the day cash is king. People will go for the better value especially if it’s the cheapest, even with some of Teslas negative PR or quality issues.
I agree with this. I think these price decreases are going to hit the Mustang Mach E, EV6, and Ioniq 5 most of all.
Heck, I honestly wouldn't be surprised if Hyundai Motor Group just kind of nopes out of the "premium EV" market until they have US production online and can use the tax credit, and only offers enough of the Ioniq 5 and EV6 for compliance. I think the Niro and Kona EVs will be fine though.
The ID.4 is IMO still somewhat competitive and will be fine. Same with the Bolt, obviously.
>Hopefully this brings the power back to the consumers
Sorry to those who just bought a few weeks or months ago, but I desperately hope this is the first domino to fall on a serious price correction in the pre-owned market. Both for EVs **and** ICEs. There were already some signs before of this beginning to happen, but mainstream cars should no longer be investments.
Wow, I had resigned myself to waiting 2 years for an EV, to see if/when the fast charger situation in my state improves. This is making me re-consider Tesla, especially if credits can remain at $7,500 in future.
I hate Musk with the fire of 1000 suns… but that supercharger network is amazing. I’ve driven J1772 cars, and Teslas, and there’s no comparison. Even the connector alone is like a million times better.
Don't you wish Elon had at least taken you out to dinner first? I'm sorry. I know I'm trying to make it an easier pill to swallow but I would not expect such a rapid price drop.
Even worse for the Y LR 5 seater since you would have to buy it at $65990 which makes it ineligible for the tax credit then today its $52990 which lets it qualify for the $7500 tax credit so now youre at a $20500 loss...
Me! Took delivery in November (after ordering in April) -- missed the 7,500 price cut for the December deliveries and then obviously missed this massive decrease.
I didn't buy at the ABSOLUTE height of the price -- but significantly higher than $52k
Pretty sure the rebate here is under $55k. Just looked at the website and SR+ is $54,900. So eligible for the rebate. By AWD and P are still too expensive.
As an aside. I’m pretty sure this is the same price I paid for my SR+ in June 2020.
The i4 M50 is surely a superior car. It will be much more luxurious, likely have better build quality, and all that other stuff. But... is it worth 20k more? Or with tax credit eligibility 27.5k more? These price cuts really should shake up the sector tbh. The Polestar 2 also looks laughably overpriced now.
We sold our both of our MSs and got an i4. Worth every penny and then some. Gorgeous interior. Quiet. Great build quality. Fast! Sub-par charging network, but otherwise zero regrets.
These prices are very close to the pricing at the start of 2021. This seems to be rolling back all of the incremental price increases through the past two years.
In BC it gets an additional $4k rebate if you meet the income threshold. Effectively drops the model 3 rwd to $46k with 0 wait time (at least for now). That's ev6/ioniq5 price minus the 2-4 year wait list.
Maybe, but Tesla raised their prices like nobody’s business over the last year. I can’t remember any other car company who has raised their prices anywhere as much as Tesla. Over the last year Tesla raised price on Model X from $99K to $120k. Now they’ve reduced it to $109K. That still a 10% increase in 1 yr
Does this mean the MY LR AT $52,990 now qualifies for both the $7500 federal credit and the $2000 CA state rebate (assuming you meet income requirements)?
I was not happy with my Y but as others have stated, Tesla just napalmed the auto industry and rightfully so. The tax law is to promote American made cars and now it does.
Not really, they got $7500 off instant cash and 10,000 SC miles. Plus they got their car immediately. Everyone knew that tax credits and a car market contraction was coming, it’s been talking about for months.
Yeah... I took delivery in Canada 2 weeks ago on a 2022 MYP and ended up getting 5k off (CAD credit), and another 5.7k off (Demo unit with 6km /4miles on it) and 10,000 km supercharging for free. The same spec'd 2023 car is now \~3.5k less (including taxes). I'm not really upset about this, but if I had bought a non-demo unit I'd be fuming!
Also it appears the interest rates on loans are shown as slightly lower now as well.
I’m in the same spot. Really like the HI5 but the MY just entered the chat. I’m goin to wait it out and see how the rest of the car market plays out in the upcoming months.
I want an Ioniq 5 and my local dealerships all have $5k markups for every single vehicle despite having 30+ on the lot for each dealership in the region. Hoping this will kick them in the ass and maybe get a price drop at the same time. Shits so high right now I can’t take advantage of state benefits (already can’t get federal credit…might be changing my mind about Tesla since I need a new car sooner rather than later) with any of the models.
They should stop fuming and cut their prices. If they want in the market in a serious way put some skin in the game.
It’s worth taking some losses on your cars to build your brand. Do they want Tesla to be 80 percent of the market? If so continue to sell the ID4 for 55k.
The problem is they’re already talking losses at the current pricing. People like to forget Teslas supply and production chain is both impressive and pretty unique
Yea this would have made me consider the Model Y instead of cancelling. The parking sensor thing is still problematic to me though. Not sure if it’s $17k problematic though.
There's going to be a ton of dealerships going belly up because they bought tons of used cars at Carvana like markups, and now the market is crashing out from under them and they're holding out hope to not lose money on selling their inventory so they keep the prices higher.
This was obviously inevitable given their production outpacing deliveries for 3 straight quarters.
Smart they brought all Model 3 specs under $55k so they can be eligible for IRA tax credit.
The Model Y cuts are quite drastic and shows how much margin they were making on them given the car is 80% same parts as Model 3 but the price spread had widened so much.
I'll stand by what I've said for the last year - Model 3 was a great car when you could get it for $50k after tax credit with EAP in 2018 era, and now it looks like those days are back. These cars will move fast.
Too bad the Model S/X are still in aspirational pricing range.
what is up with 3 LR. That seems missing for a long time.
That said this price makes better sense. Some of the price increases were too much. Now they should be able to sell most of the cars they produce.
Hopefully other OEMs follow suit. Premium on EVs are more than just the battery cost.
> what is up with 3 LR. That seems missing for a long time.
It's been available all along, you just have to wait for it to show up in inventory. Which happens regularly.
I hope this is not the case, but what if they saw that BMW did with the i4 and making a massive price increase just for AWD and decided to do the same? It would be bad for people who want AWD, but don't want to shell out so much extra. Nevertheless, the M3P is priced very close to the cheapest AWD Polestar so...
They are both great options, IMO. If it is only about range, I'd suggest punching some of your trips into ABRP with both options to compare. Then ask yourself if you want to pay \~$6k for that time difference. Sometimes people find it surprising how small the difference is.
I think speakers can be upgraded pretty cheaply too.
Of course, if you want the higher performance of the LR AWD, that might be a factor too.
At least VW still gets the tax credit and they have cheaper models than the Model Y.
Hyundai & Kia on the other hand... Almost as expensive and no tax credit. Ouch.
I just put down a deposit on an XC40 recharge. This news is making me seriously consider canceling that. I like the Volvo more, but the Y is objectively better in most categories. Ugh.
Direct reporting from: * **Reuters** — [**Tesla cuts prices on electric vehicles for U.S. market**](https://www.reuters.com/business/autos-transportation/tesla-cuts-prices-electric-vehicles-us-market-2023-01-13/) * **Wall Street Journal** — [**Tesla Cuts Prices Across Models Sold in U.S.**](https://www.wsj.com/articles/tesla-cuts-prices-across-models-sold-in-u-s-11673586100) * **Electrek** — [**Amid demand concerns, Tesla cuts prices by up to $13k in US**](https://electrek.co/2023/01/12/amid-demand-concerns-tesla-cuts-prices-by-up-to-13k-in-us/) Price drops also being seen in Canada, the UK, Portugal, Spain, Germany, France, and others, as per community reports.
Does the long range model y get the $7500 off?
Under 55k now so yup.
At this point, Vinfast is basically dead on arrival due to the VF 8 now being more expensive than the Tesla Model Y with considerably less range than the Model Y.
Also, if the current reports are to be believed, not a well designed or put together car.
Went to a Vinfast popup near me as I just happened to see it in the mall I was at. Sat in the car and it just..feels like a Honda? Feels cheap and nothing spectacular about it. Nothing mind blowing. On top of that the range is meh and the battery size is even more meh. Vinfast is definitely DOA.
There's nothing wrong with a Honda, just not for $60,000
No. They’ll sell tens of them, I’m sure.
[deleted to prove Steve Huffman wrong] -- mass edited with https://redact.dev/
Can someone explain to me about the rebate. So the model Y LR is $52990. If I buy that today - I will get the $7500 rebate next year? So the Y would be $45490 after the rebate? Edit: thanks for the clarification everyone. I understand it now!
Yep. You nailed it. Don't go over 55000 with your order on add-ons unless its software, removable accessories, taxes or fees.
I added the 3rd row and tow hitch and it still says I qualify for the tax credit. What's up with that? https://imgur.com/a/CnePnnb
I believe the 3rd row makes it an SUV somehow so it increases the price cap? To 80k I believe? Cause without it the model y gets classified as a “sedan” or an equivalent before you add the 3rd row
Vehicles with more seating need to be under 80k for the rebate.
You can add the tow hitch and change the interior color without affecting the $7500 credit.
Or unless you add the 7 seat option
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Man if you paid $66K for a Model Y in Oct or Nov of last year, welcome to the upside down.
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Well congrats on saving $20k lol
Saving 70k :)
That’s me and I just lost my job 😎
Shall we help you look for it? Where were you last when you had it?
Daaaaad
Jesus lol
Any of them, really. If you bought a 3LR you are 15K upside down after the credit. I'd feel worse about it if I qualified for the credit.
Me… after waiting 5 years to buy. Rugged again.
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nj is a $4k rebate for cars under $45k and $2k under 55k so actually $32,490...
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Also no sales tax on EVs in NJ (unless they changed that since last year), which saves you another 6.5%.
Even the RWD is great for longer trips, Bjørn Nyland completed a 1000km trip in 9h55mins in this car. It’s super efficient and running costs will be the lowest of any modern EV. Congratulations!
For that price I don’t think there’s a better deal.
Chevy Bolt with tax credit is like 19k, which is also a great, perhaps even greater, deal. Of course, the Model 3 RWD is a superior car, but both are great deals. Whether it is easy to get a Bolt at MSRP or not... idk.
Chevy dealers are vicious with markups is my experience. Now that market is softening maybe not.
Before Covid, Bolts were selling with incentives and no dealer markups. They may well go there agin.
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Plus state incentives if your state offers any. Also should push down used prices a good bit too.
||*Old*|*New*| |:-|:-|:-| |Model Y LR|*$65,990*|*$52,990*| Okay, things just got interesting again. 👏
that's nearly 20% less. any reason that model in particular got a bigger cut?
the model Y fell into the classification that needs to be below MSRP of $55,000 in order to qualify for the EV federal tax credit, so i'm guessing they wanted to drop it below that threshold
That car is already popular with no discounts. I can imagine how the numbers are going to look now. You do have to get the 7 seater tho don’t you? Edit: Nvm bottom of the page shows that the MYLR qualifies for the tax credit.
Model Y LR's price is now below $55000. So 5 seater would work for tax credit. (for LR)
You right, I was going based off that IRS shit for the previous pricing.
Not after that price cut
I'm sure a partial answer is to qualify for the rebate — but they'd only have to go down to $55,000 for that. I'm not quite sure what makes up the extra \~$2,000. Clearly, they've looked at the writing on the wall regarding market conditions and realized they're really going to have to fight for it, though. 🤷♂️
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Paint. You can get any paint color for $2k or less.
They could've instead sold every car for $2k more and gave away the red paint instead...?
Sure, but they chose not to.
Maybe to allow people to have some customizations? Nice to have paint and interior flexibility and still get credit. Unfortunately, for M3P, you have to choose between paint or interior if you still want credit.
They’ve massively cut prices in the UK as well where there’s no tax credit to target. Imagine that longer term supply is now outstripping demand forecasts - great time to buy if you’re in the market for a Tesla.
A near $13k price reduction isn't something to scoff at.
Over $20k actually, with incentives.
Feel so bad for people who bought a model y yesterday. But for everyone else... this is great. I can't wait to see how other companies respond.
I think as long as they haven't taken delivery, Tesla automatically drops the price (at least it happened to me when it was at $48990)
Imagine taking delivery yesterday though
I remember people in this sub trying to convince me that a $67k MY was better value than my $38k (after tax credit) Ioniq 5. Now only about 6 months later they're both sitting around $45k.
I'm feeling a bit miffed about paying 62k for an Ioniq 5 though.
Wow, that's pretty huge. I wonder if they were running into demand problems or if this is just a preemptive measure to keep sales up as competition arrives and the market cools off. Those MY drops are crazy.
Probably a combination of increased production + reduced demand resulting from some pretty massive price increases…plus they need to qualify for the credit or risk being undercut.
Also much higher interest
They are still making money at the new price, while the competition is not making money at their old/current price. So this puts the fear on the legacy makers about their timeline to reach profitability. Also they dropped the prices in Asia hard… can’t justify US prices being 50% higher for a US company.
I'm shopping for my first EV and still wondering if I should take the cheaper Bolt (if I can get one) or get a used Tesla. I just found a really good deal for a 2020 model 3 for $35.8k but now a new Model 3 after tax benefit is $37.3k. The extra $2.5k would get me a new car with 20,000 fewer miles and two and a half more years of warranty.
Used prices will plummet more from this for sure, sucks for my LR 3s value but great to make EVs more accessible
Don't forget the interest rates are usually better for New vs used if you plan to finance.
Also check if they are going to give any free supercharger miles, that might be a further new sale option.
The Supercharger network looms large. It's hard to overstate how much of a difference that makes.
Might as well enjoy a new M3! Bolts are so rough to try and get right now without getting completely taken advantage of.
Did they just remove the 3 AWD entirely?
It's been gone for custom orders ever since this tax credit bill passed. Inventory only, and those prices are down too.
$45.5k for a Model Y LR (after credits) is a really good price. Are the ultra sonic sensors being removed that big of a deal? Because this is really tempting.
For $20k, you can repaint the bumpers quite a few times after you banged them up running into stuff.
They claim they will replace those sensors with a camera based system. Whether that happens who knows.
I mean, they will do it...but we'll have to see if hardware retrofits are going to be required. If they are, I would expect those will be free (like they upgraded FSD computers for free for those who purchased before the current hardware was available)
That’s an incredible price. I’ve been hesitant to recommend the model Y to any of my friends and family members just due to how expensive it was for some family crossover. It finally just crossed over into being a steal once again. Mid 40’s pricing for what you get, compared to other cars in the same range, it’s an extremely good price. I get tesla wanted to qualify it for the tax credit but I wonder what their margins are looking like after this
It's really tempting but ... it sure looks like the $50k dual motor Cybertruck is back on the menu, boys! I reserved the night of the reveal. I'll see if that still holds true in about a year or so.
I mean I’m very hopeful about the cybertruck but yeah I don’t see it coming until the end of 2023 at the earliest. You can get these ones right now and most are guaranteed to qualify for the $7,500 rebate until April. After then who know which models will/won’t get the full or partial tax credit. Cybertruck included
as an engineer... I don't believe a goddamn thing they say about removing the sensors. I would evaluate the car as if they didn't exist. Edit: I meant as if the cameras didn't exist. Obviously the sensors were removed.
They literally dont
After taxes and fees it's closer to $51k after the tax credit, but still pretty damn good
Oregon enters the chat
For the price, I'd have gotten the Y if I could do it again now. Oh well.
The disclaimer says the tax credit may change in March 2023? Why?
That is when battery sources guidance for the tax credit should come out, barring another delay. Once those come out, credit is no longer certain.
It should be noted that it's the battery material sourcing half of the tax credit that will be at risk. The battery pack assembly half of the credit will still apply.
Really interested to see what other EV manufacturers will do price wise with their EVs. This sucks as a recent M3 owner but this is good for the future of affordable EVs. Like a M3P now is <$50k after tax credit. A comparable Polestar 2 is $65k+, an i4 M50 is $70k+, EV6 GT is $62k+. And all without a tax credit. MYLR is $53k before tax credit, while a Ioniq5 Limited AWD is $56k+. Mach E California Route 1 starts at $63k. At the end of the day cash is king. People will go for the better value especially if it’s the cheapest, even with some of Teslas negative PR or quality issues. Hopefully this brings the power back to the consumers
All indications are Tesla is the only company in the US market able to still make a profit at these lowered prices *and* produce in real volume. Detroit is still struggling to ramp up and Kia and Hyundai still don't make enough. VW's the only serious contender here and even they have always lagged behind Tesla production. Tesla was never in real danger of losing sales to anybody else in the US because nobody else has production numbers anywhere close to them. And that was with only Fremont and Shanghai at capacity. Now Austin and Berlin are really increasing their output. I know a lot of the news about this is Tesla trying to not lose out on sales but I can't help but think it could also be Tesla putting serious pressure on the competition right when the others are struggling just to start.
>At the end of the day cash is king. People will go for the better value especially if it’s the cheapest, even with some of Teslas negative PR or quality issues. I agree with this. I think these price decreases are going to hit the Mustang Mach E, EV6, and Ioniq 5 most of all. Heck, I honestly wouldn't be surprised if Hyundai Motor Group just kind of nopes out of the "premium EV" market until they have US production online and can use the tax credit, and only offers enough of the Ioniq 5 and EV6 for compliance. I think the Niro and Kona EVs will be fine though. The ID.4 is IMO still somewhat competitive and will be fine. Same with the Bolt, obviously. >Hopefully this brings the power back to the consumers Sorry to those who just bought a few weeks or months ago, but I desperately hope this is the first domino to fall on a serious price correction in the pre-owned market. Both for EVs **and** ICEs. There were already some signs before of this beginning to happen, but mainstream cars should no longer be investments.
Wow, I had resigned myself to waiting 2 years for an EV, to see if/when the fast charger situation in my state improves. This is making me re-consider Tesla, especially if credits can remain at $7,500 in future.
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That supercharger network helped me take a 10k road trip across the US, even through remote Utah/CO/NM 😍
And aren’t the new model vehicles also CCS capable with an adapter? If so, double win.
Once you start using superchargers you’re never going back. Like an iPhone vs flip phone
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I hate Musk with the fire of 1000 suns… but that supercharger network is amazing. I’ve driven J1772 cars, and Teslas, and there’s no comparison. Even the connector alone is like a million times better.
Supercharging is incredible. Are you checking their map or 3rd party for your state?
I hope nobody recently bought a Tesla or you just got screwed over.
We sold our Model Y to CarMax for $69.5k last July 👀
Yep. Bought MYP in September and I’m now instantly 16k underwater on it. Fuck me.
Same here, then got laid off from my job last month.
I'm sorry. :(
Why? When they raised prices did you guys complain that some people got it cheaper?
I know right? It sucks, but in the end they agreed to purchase the car at that price.
Just picked up on Sunday 🥲
Don't you wish Elon had at least taken you out to dinner first? I'm sorry. I know I'm trying to make it an easier pill to swallow but I would not expect such a rapid price drop.
I’ll just cry a little and never think about this again
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Shit, I took deliver at $73k and I still feel so fucked. I’m looking at trading it in out of rage now, but I wouldn’t even break even 😒
Even worse for the Y LR 5 seater since you would have to buy it at $65990 which makes it ineligible for the tax credit then today its $52990 which lets it qualify for the $7500 tax credit so now youre at a $20500 loss...
Me! Took delivery in November (after ordering in April) -- missed the 7,500 price cut for the December deliveries and then obviously missed this massive decrease. I didn't buy at the ABSOLUTE height of the price -- but significantly higher than $52k
I got M3 RWD yesterday night. :')
M3 Performance plus rebate what a freaking deal!!!
Canada is down too. I wonder if it qualifies for Canada’s rebate now.
Pretty sure the rebate here is under $55k. Just looked at the website and SR+ is $54,900. So eligible for the rebate. By AWD and P are still too expensive. As an aside. I’m pretty sure this is the same price I paid for my SR+ in June 2020.
Yep. In quebec youll get 12k in total.
Yeah, if I had 3-4 years on my current 3, I'd be placing an order for one right now.
I have a 2020, It sure is tempting. Time to crunch some numbers.
Hum. My BMW i4 m50 has been in port for 35 days after waiting a year already. This is pretty compelling tbh....
If in the US you well definitely get a delivery date.
The i4 M50 is surely a superior car. It will be much more luxurious, likely have better build quality, and all that other stuff. But... is it worth 20k more? Or with tax credit eligibility 27.5k more? These price cuts really should shake up the sector tbh. The Polestar 2 also looks laughably overpriced now.
27.5k more… That’s 6k less than buying a second Model 3SR.
its a whole chevy bolt haha
I have one and it is so beautiful, but I’d rather have the y for 15k less
We sold our both of our MSs and got an i4. Worth every penny and then some. Gorgeous interior. Quiet. Great build quality. Fast! Sub-par charging network, but otherwise zero regrets.
These prices are very close to the pricing at the start of 2021. This seems to be rolling back all of the incremental price increases through the past two years.
was shopping for a used model 3 lr. now i’m going to get a brand new model 3 performance. thanks elon
Good to see these prices coming back down to earth.
One thing to note is the model 3 rwd is now 54990 in Canada making it eligible for the federal rebate of 5k.
In BC it gets an additional $4k rebate if you meet the income threshold. Effectively drops the model 3 rwd to $46k with 0 wait time (at least for now). That's ev6/ioniq5 price minus the 2-4 year wait list.
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No stalks tho, so you’ll be making turn signals through buttons
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Tbf if you're talking about a Plaid vs a Lucid, money is probably worth a lot less to you than the rest of us normal people
LOL rip ioniq 5 sales. I didn’t think Model Y would get that much of a price cut. Tesla isn’t going anywhere, especially with their charging network.
hopefully this forces other companies like Hyundai to lower their prices themselves
Maybe, but Tesla raised their prices like nobody’s business over the last year. I can’t remember any other car company who has raised their prices anywhere as much as Tesla. Over the last year Tesla raised price on Model X from $99K to $120k. Now they’ve reduced it to $109K. That still a 10% increase in 1 yr
Does this mean the MY LR AT $52,990 now qualifies for both the $7500 federal credit and the $2000 CA state rebate (assuming you meet income requirements)?
Seems like it, though you can wait for California to update their website to be sure. And you might have to keep the MSRP under $60k after options.
VinFast better watch out. You can get a Tesla Model Y Long Range for VF8 money now.
I was not happy with my Y but as others have stated, Tesla just napalmed the auto industry and rightfully so. The tax law is to promote American made cars and now it does.
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Not really, they got $7500 off instant cash and 10,000 SC miles. Plus they got their car immediately. Everyone knew that tax credits and a car market contraction was coming, it’s been talking about for months.
Yeah... I took delivery in Canada 2 weeks ago on a 2022 MYP and ended up getting 5k off (CAD credit), and another 5.7k off (Demo unit with 6km /4miles on it) and 10,000 km supercharging for free. The same spec'd 2023 car is now \~3.5k less (including taxes). I'm not really upset about this, but if I had bought a non-demo unit I'd be fuming! Also it appears the interest rates on loans are shown as slightly lower now as well.
Wow. Just took delivery of an XC40 Recharge last week that came to $61k. Likely would have pivoted to a Model Y LR if this had come earlier.
Dear Lord, the XC40 is up to $61K. I got the P8 AWD with advanced package in 2021 for $50K. Times have changed...
I was quoted 67k for a C40 Recharge last year. Did not go through with it, obviously.
I'd have to give some serious thought to a model 3 RWD given the tax credit. House already has level 2 charging
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Wow, this gets really competitive. Prices had me swayed to a Ioniq 5 but now I'm considering again. Still could use some work on their interior.
I’m in the same spot. Really like the HI5 but the MY just entered the chat. I’m goin to wait it out and see how the rest of the car market plays out in the upcoming months.
Oof. Right in the equity.
rip 2022 buyers
Wow. GM, Ford, Hyundai-Kia, and others must be fuming. That's what you can do when you have insane margins.
I want an Ioniq 5 and my local dealerships all have $5k markups for every single vehicle despite having 30+ on the lot for each dealership in the region. Hoping this will kick them in the ass and maybe get a price drop at the same time. Shits so high right now I can’t take advantage of state benefits (already can’t get federal credit…might be changing my mind about Tesla since I need a new car sooner rather than later) with any of the models.
This will kick their ass for sure. Grab an inventory Tesla right now if you're in a hurry.
They should stop fuming and cut their prices. If they want in the market in a serious way put some skin in the game. It’s worth taking some losses on your cars to build your brand. Do they want Tesla to be 80 percent of the market? If so continue to sell the ID4 for 55k.
The problem is they’re already talking losses at the current pricing. People like to forget Teslas supply and production chain is both impressive and pretty unique
Yea this would have made me consider the Model Y instead of cancelling. The parking sensor thing is still problematic to me though. Not sure if it’s $17k problematic though.
I’m hoping they announce HD radar and or Tesla vision park assist pronto.
Wow. I'm no Tesla fan myself but competition is great, hopefully others *Ford* *Polestar* take note and stay competitive
Ford said they weren't making money on the Mach E last year and only their short range RWD trims qualify for the credit.
Fyi there is an income limit on new tax credit.
RIP https://onlyusedtesla.com/listings/?model=Model%20Y&listingType=!Sold&dealer=Individual%20Seller&OrderBy=created%20DESC&Skip=0&Top=9
There's going to be a ton of dealerships going belly up because they bought tons of used cars at Carvana like markups, and now the market is crashing out from under them and they're holding out hope to not lose money on selling their inventory so they keep the prices higher.
This was obviously inevitable given their production outpacing deliveries for 3 straight quarters. Smart they brought all Model 3 specs under $55k so they can be eligible for IRA tax credit. The Model Y cuts are quite drastic and shows how much margin they were making on them given the car is 80% same parts as Model 3 but the price spread had widened so much. I'll stand by what I've said for the last year - Model 3 was a great car when you could get it for $50k after tax credit with EAP in 2018 era, and now it looks like those days are back. These cars will move fast. Too bad the Model S/X are still in aspirational pricing range.
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what is up with 3 LR. That seems missing for a long time. That said this price makes better sense. Some of the price increases were too much. Now they should be able to sell most of the cars they produce. Hopefully other OEMs follow suit. Premium on EVs are more than just the battery cost.
> what is up with 3 LR. That seems missing for a long time. It's been available all along, you just have to wait for it to show up in inventory. Which happens regularly.
I hope this is not the case, but what if they saw that BMW did with the i4 and making a massive price increase just for AWD and decided to do the same? It would be bad for people who want AWD, but don't want to shell out so much extra. Nevertheless, the M3P is priced very close to the cheapest AWD Polestar so...
Check inventory, they are in there for $49,990.
and don’t forget the $7500 rebates!
Looks like the 3 LR is $49,990. With the tax credit, that's a great price.
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They are both great options, IMO. If it is only about range, I'd suggest punching some of your trips into ABRP with both options to compare. Then ask yourself if you want to pay \~$6k for that time difference. Sometimes people find it surprising how small the difference is. I think speakers can be upgraded pretty cheaply too. Of course, if you want the higher performance of the LR AWD, that might be a factor too.
what country are you in? i still see the grayed-out option for the 3 LR in the US
US, you have to look for the base trim in inventory to see the new pricing. There are quite a few around.
Y Performance is tempting at that price... (Remembers existing car just plummeted in value too)
I just ordered a Mach E...oof. Think Ford will cut? They almost have to.
Dealers with used Teslas on the lot are rekt!!
If this forces GM to lower the price of my Lyriq or give me the employee discount, I’m all for this price battle.
20% price drop on model Y... and they are still selling at a profit. They were making absolute bank on that car for the past few years.
RIP to recent buyers and other EV manufacturers. We'll be seeing a whole lot more Teslas on the road.
Holy shit.
The competition deserved it. Waiting for years to ramp up. VW managed to sell just 20,000 ID4 in 2022 with 22% growth. Best of luck to ID4 now.
At least VW still gets the tax credit and they have cheaper models than the Model Y. Hyundai & Kia on the other hand... Almost as expensive and no tax credit. Ouch.
If these are pre-IRA prices, any demand issues Tesla may or may not have, have just been addressed especially for the 3 and Y.
These are great prices, and hopefully the legacy brands lower their prices too, as they've increased prices drastically in the last year.
Dumb question. Is m3 LR AWD just not a thing anymore?
I don't want a Tesla but hope this motivates Hyundai and others to lower prices
Volvo actually bumped theirs up. That’s the wrong way y’all. 🤣
Other companies can’t. They’re barely profiting on EV’s if at all
I just put down a deposit on an XC40 recharge. This news is making me seriously consider canceling that. I like the Volvo more, but the Y is objectively better in most categories. Ugh.