2024 Tesla Model Y Price Hike: What You Need to Know

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Tesla Model Y Price Hike

The price of the Tesla Model Y has been increased. Tesla have, that will actually mention that we’re going to increase the price of the Tesla Model Y today, and they’ve gone ahead and done so.

The price has increased in America, United States, and in China. Tesla actually announced the price increased a couple of weeks ago, and then they follow I’m not through with it.

Tesla Model Y Price Increase

The price has gone up by $1,000 in the United States. In China, it’s gone up by around $700.

You might be wondering which models are gone up. What are the changes? Well, every single model has gone up by $1,000.

However, it’s worth Just mentioning, the cheapest version of the Tesla Model Y in America is 43,990.

Well, now it was $44,990, but it does still qualify for the $7,500 tax credit.

You can see why a lot of people are buying them because even now with this price increase at $45,000, You’re still going to get one of these drive away.

It’s a point of sale discount. You don’t have to apply for it anymore.

Tesla does this for you. That means you’re driving away in a car for $37,500, which is, for that price, it’s a no-brainer.

Tax Incentives and Inventory Deals

The Model Y all-wheel drive long range. The price was $48,990, so it’s now $49,990, and the all-wheel drive performance, $52,500, so it’s now $ 53,500.

All three of those models do qualify for the full EV incentive in America. Tesla’s US website gives customers the option to purchase available Model Y units in inventory.

If you’re going to buy an inventory model, I believe you can still get them for the same price.

Competition in the EV Marke

Inventory stock, with the tax credit, you’re still going to get for the same price, so 36,500 US dollars or 44,000 US dollars for inventory stock.

Before the tax credit, 44,000, 36,500 with the tax credit, which I think is a pretty damn good deal for what you’re getting, really good value for money.

In China, the price has increased by 692 dollars. So not a big difference, really.

But considering what Tesla’s competition have done, it’s a massive difference because all of Tesla’s competition have reduced their prices. Byd has slashed the prices of every single model that it sells.

And BYD’s sales have just been revealed for March. Byd March was staggering, an incredible month of March.

Potential Model Y Upgrades

That said, though, BYD have lost their title for biggest selling EV manufacturer in the world, which they claimed from Tesla in the fourth quarter of last year.

It’s gone back to Tesla in the first quarter of this year, which I think was pretty obvious that would happen.

It’d be interesting to see if the media mentioned that. I don’t think that they will. But anyway, BYD had an amazing March, and they’ve reduced prices many, many times of almost every model they sell.

Interesting to see, though, Tesla doing this, increasing the price. In addition to that, Tesla doesn’t have any deals that BYD have.

Byd have a 0% interest on some of their cars. Tesla has interest rates starting as low as 2.5%, equivalent to an annualized interest rate starting from 4.6%.

So Tesla, they’re going to increase prices in Europe as well. They increase the Model Y’s price by around €2,000.

In some countries, over the last couple of months, around €2,000. But we know Tesla are number one in most countries right now with the Model Y.

It’s the best-selling EV by a mile in most countries. So you can see why Tesla did that in Europe. It is surprising to see them do this in America and China.

My thoughts are a couple of months from now, we’re going to see some improvements to the Model Y come through, the Chinese improvements.

I do think those are coming to the global Model Y, or at least the Model Y being manufactured in China.

So I personally wouldn’t be in too much for a hurry to go and buy a Model Y at these increased prices.

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