Tesla increasing Model Y prices in the US tomorrow

Tesla will be increasing the price of the Model Y in the US tomorrow, marking the first time consumer know about an impending price increase in North America.

Thanks to their direct-to-consumer model, Tesla’s pricing strategy is unlike legacy automakers in that is it transparent and everyone pays the same price. There is no haggling for discounts, even for Elon Musk’s mother, Maye Musk, who revealed she has to pay full price just like everyone else.

As part of this transparent pricing strategy, that also means there is a microscope on pricing changes, both increases and decreases, of which Tesla has been doing a lot of lately. Until last month those price changes always went unannounced, leaving it up to owners and customers to notice the changes on the online configurator.

That wasn’t the case last month, when Tesla announced for the first time a $1,000 price drop on the Model Y Rear-Wheel Drive (RWD) and Long Range (LR) in the US. Not only did the Design Studio have a message about the price drop, it also warned that prices were going to increase “by $1,000 or more” on March 1, 2024.

That day is tomorrow, so if you are thinking about ordering a Model Y, you might want to do so before midnight tonight.

As of today, the Model Y RWD starts at US$42,990, or US$35,490 after the federal tax credit, and the Model Y LR starts at US$47,990, or US$40,490 after the tax credit.

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