Does anyone know what a Tesla costs these days? The EV maker instituted its eighth price change since the start of the year. This time prices went up, but only about 1%.
Tesla raised prices for all versions of the Model S and Model X by $1,000 and the Model Y went up $250, Reuters reported. The Model 3 price remained unchanged. The company cut prices in mid-April — twice. However, it did raise prices earlier this month.
Overall, the prices on Tesla vehicles are down significantly since the beginning of 2023. Six of the price changes this year were price cuts. After the latest price change, the base level Model S and Model X vehicles are 16% and 19% less expensive from Jan. 1. The Model Y’s long-range iteration is about 23% cheaper, Reuters noted.
The Model S is now $88,490, and the Model X comes in at $98,490. The performance versions are now $108,490. The Model Y long-range and performance variants are $47,490, $50,490 and $54,490, respectively, the news outlet said.
Big cuts everywhere
While the U.S. is Tesla’s biggest market, the company’s dropped prices in other places as well, including Europe, Israel, Singapore, Japan, Australia, South Korea and it’s expanding some cuts it began in January.
Earlier this month, Tesla announced it was cutting $5,000 off the price of the Model S and Model X, plus $2,000 off the Model Y and $1,000 off the Model 3 sedan.
In March Tesla slashed $10,000 off its Model X SUV and $5,000 on the Model S. The move comes after previous price cuts of up to 20% in January.
“The desire for people to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla,” Musk said during an online investor briefing last week.
Tesla’s product mix is heavily weighted towards the less expensive Model 3 sedan and Model Y crossover. Together, those models made up 96% of Tesla’s 2022 sales. The Model S and Model X start with substantially higher prices, and Musk intends to increase sales of the top trims with these price reductions.
The price cuts appear to have boosted Tesla sales as it reported a 36% increase in first quarter deliveries last week. In the first three months of this year, it sold 422,875 vehicles, mostly Model 3 and Model Y cars.