Base price drops $3,000 in the US, nearly $5,000 in Canada.
The Performance version has also been updated.
Most will agree that Tesla’s immediate future lies in the Model Y’s capable hands. It is also understood that the Model Y’s as the sole fully-electric compact-midsize SUV on the market is almost up. In order to keep it competitive, Tesla’s dropped its price.
With Offerings from Volkswagen in the ID.4, and the Ford Mustang Mach-E, Tesla’s is attempting to be competitive ahead of the competition. Although the VW’s pricing is not yet known, the 2021 Mach-E is priced from $43,895 in the US, and $50,495 in Canada, before various incentives.
The Tesla Model Y Long Range price has dropped to $49,990, from $52,990, in the US, and to $69,990 from $74,600 in Canada. Mind you, the base Model Y is a dual-motor set up while the Mach-E is a single-motor configuration. Also, the Model Y Performance now includes the Performance package as standard and includes a higher top speed, 21-inch Überturbine wheels, performance brakes, a lowered suspension, and more.
More than likely, price drops are not yet over at Tesla. A rear single-motor Model Y should arrive before too long, further dropping the entry price but we think that there’s still room to create a more affordable pricing structure for the dual-motor Model Y.
If anything, this should discourage the early adoption of upcoming vehicles from Tesla, and possibly EVs from all OEMs. Prices should slide as production costs also drop.