Tesla Model Y US price rose $500,000 to $53490

CTOnews.com, January 24, less than two weeks after introducing a series of aggressive price cuts for its entire S3XY series, Tesla raised the price of the dual-motor all-wheel drive version of Model Y slightly in the United States, which now starts at $53490 (currently about 363000 yuan).

Even if the starting price increases by $500, the price of the dual-motor all-wheel drive version of Model Y in the United States is still much more affordable than last year. Before Tesla slashed its price earlier this month, the cross-border SUV was priced at $65990 on the company's official website.

The all-wheel drive version of Model Y is still eligible for a $7500 tax credit under the inflation reduction Act (IRA), which costs about $45990.

The current starting price of $53490 for all-wheel drive Model Y may discourage consumers from choosing more options, such as red multi-coated paint or 20-inch induction wheels, both worth $2000, pushing the price of the vehicle above the IRA's $55000 limit.

Tesla Model Y was already one of the best-selling vehicles in the United States last year, even though its price was much higher than that of other vehicles. With its lower price, sales of the all-electric crossover are likely to increase significantly this year.

CTOnews.com learned that the current prices of Tesla Model 3 and Model Y on Chinese mainland are the lowest in the world, starting from 229900 yuan for Model 3 and 259900 yuan for Model Y.