Tesla cuts Model S/X/Y prices in the US by $2,000

Tesla has initiated another round of price cuts in the United States, lowering the starting prices of all trims of the Model S, Model X, and Model Y, all by $2,000.

There was no price cut to the new Model 3, and there have been no similar price reductions in Canada.

According to an update to the Design Studio on Friday night, the Model Y now starts at $42,990 for the entry-level Rear-Wheel Drive (RWD) variant, or just $35,490 after the $7,500 federal tax credit.

Here’s a full breakdown of all the new prices.

ModelCurrent PricePrevious PricePrice Change
Model Y RWD$42,990$44,990-$2,000
Model Y Long Range$47,990$49,990-$2,000
Model Y Performance$51,490$53,490-$2,000
Model S AWD$72,990$74,990-$2,000
Model S Plaid$87,990$89,990-$2,000
Model X AWD$77,990$75,990-$2,000
Model X Plaid$92,990$90,990-$2,000

The price cuts for the Model Y come just over two weeks after Tesla increased prices the RWD and LR variants of the electric SUV. On April 1 Tesla raised prices of both by $1,000.

However, earlier this week Tesla also adjusted prices on the Model Y in existing inventory, removing discounts on cars already built that had grown to as much as $7,200.

For the Model S and Model X, this is the first time in a long time since Tesla tinkered with their prices. The most recent was back in October 2023, but that was just for the Model X Plaid, when the price increased by $5,000. For the rest of the Model S and Model X variants, you have to go further back to the start of September, when prices were substantially reduced.

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