The price of the Tesla Model Y increased in the United States and China. The price increase should come as no surprise to customers since Tesla openly announced its plans for the Model Y in April 2024.
Tesla increased the price of the Model Y in the United States by $1,000. The price increase applies to all Model Y trims. Before Tesla’s price increase, the Model Y RWS started at $43,990 before the $7,500 federal tax credits and local incentives. The Model Y AWD Long Range started at $48,990, and the Model Y AWD Performance’s price was $52,490 before tax incentives.
As of this writing, Tesla’s US website gives customers the option to purchase available Model Y units for its inventory or schedule a demo drive. Tesla’s “custom order” button is unavailable for the Model Y on its website.
Meanwhile, Tesla increased the price of the Model Y by RMB 5,000 ($692) in China. The price increase applies to all Model Y variants in China. The base Model Y RWD now starts at RMB 263,900 ($36,499.69). The Model Y AWD Long Range’s price increased to RMB 305,900 ($42,308.66), while the Performance variant now starts at RMB 368,900 ($51,022.12).
On its website in China, Tesla informs local customers that they can apply for annual rates starting as low as 2.5%, equivalent to an annualized interest rate starting from 4.58%.
Tesla also increased Model Y prices in Europe in late May. According to the EV automaker, the price increase will apply in several European countries. Tesla increased the Model Y’s price to about €2,000 (~$2,180).
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