Tesla is rolling out another price cut, but you have to act fast. As InsideEVs reports, the automaker is trimming $1,000 off the price of its popular Model Y, but only for a few more weeks. “New Model Y RWD and Long Range AWD prices reduced for deliveries now through February 29,” the company says on its website.
(Credit: Tesla)
Come March 1, “prices will increase by $1,000 or more,” Tesla says.As per the Tesla Model Y configurator, that drops the price of a base Model Y to $31,890 and the price of the Long Range AWD variant to $36,890 after factoring in the $7,500 federal tax credit and the $1,000 discount. (The Model Y Performance still starts at $40,890.)
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While Tesla has reduced its prices often over the last few years, a shorter deal on its vehicles isn’t typical behavior. The most likely cause is Tesla testing short-term discounts to see if it bumps up demand. Tesla’s growth has slowed a bit in 2024 with the company forecasting “notably lower” growth than 2023, prompting concern about staff layoffs.
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Another potential reason for the discount is that Tesla can now produce more vehicles than demand states. Troy Teslike posted on X that the Giga Texas factory is working at 35% of its capacity due to low demand and supply chain issues on US-made batteries; a price drop may help the demand issue.Some potential buyers may also be waiting until next year, when Tesla is aiming to begin production on next-gen EVs.
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