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The least expensive five-passenger Tesla Model Y crossover is now $61,400. The most recent price increase of $1,000 was widely discussed today on Tesla Social Media club pages. In addition, the nine-month wait for a new Model Y is cut drastically if one opts to pay for a higher trim. Thus, those who pay the most get cars the quickest when it comes to the Model Y.
The price breakdown for the least expensive Model Y, white, with the cheaper wheels substituted for the standard wheels and with zero options now is as follows according to Tesla’s configurator:
Vehicle Price $59,990
Destination & doc fee $1,200
Order fee $250
Total: $61,440
One member in a Tesla owners club online commented on the price increase saying, "It's crazy how much price went up in a year." Another wrote, "Tesla has priced itself out of my budget."
The Tesla Model Y has now moved far past what many would consider "affordable" for a green crossover this size. The contrast to hybrid crossovers about the size of the Model Y is stark. The Toyota RAV4 Hybrid AWD has a starting price of $30,100 including its destination fee. The Honda CR-V Hybrid has a base price of $32,835. Tesla’s least expensive crossover is now effectively double the price of a similarly-sized affordable crossover with a green powertrain.
One close competitor to the Tesla Model Y is the Ford Mustang Mach-E battery-electric crossover. Although Ford does make fancy versions of its BEV crossover, the company also has a base Mustang Mach-E with a price of just $44,995 including destination. After state and federal EV incentives the cost to the consumer can be as low as $35K.
Related Story: Poll: Nearly All Ford Mustang Mach-E Owners Paid MSRP or Less
A fully-equipped Tesla Model Y Performance Dual Motor All-Wheel Drive in Red Multi-Coat paint with a Black and White Interior equipped with Full Self Driving now has a price of $82,440. FSD increased in price by $2K in January. Pay the big bucks for a Tesla and your car comes much more quickly. Tesla’s configurator estimates the full whammy Model Y has a delivery wait of just two months rather than nine.
Tesla has raised prices of its Model Y crossover and Model 3 sedan about a dozen times in the past year according to Reuters. A colleague of Torque News was one of the last lucky buyers of a new Tesla Model Y about 13 months ago before the sharp price increases began. His price for the Standard Range RWD Model Y? Just $41,990 before the addition of an optional third-row seat. Tesla’s least expensive Model Y has effectively jumped 50% in about a year. Tesla no longer offers the “base” SR RWD in America.
Image of Tesla at a retail location by John Goreham
John Goreham is a long-time New England Motor Press Association member and recovering engineer. John's interest in EVs goes back to 1990 when he designed the thermal control system for an EV battery as part of an academic team. After earning his mechanical engineering degree, John completed a marketing program at Northeastern University and worked with automotive component manufacturers, in the semiconductor industry, and in biotech. In addition to Torque News, John's work has appeared in print in dozens of American news outlets and he provides reviews to many vehicle shopping sites. You can follow John on TikTok @ToknCars, on Twitter, and view his credentials at Linkedin
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