Electric vehicle giant Tesla warned customers of a looming $1,000 price increase to all Model Y trims in the United States starting on April 1 as a new end-of-quarter incentive.
Looming price increase
Tesla officially announced the upcoming price hike on the Tesla Model Y’s order page.
“Prices will increase by $1,000 for all Model Y trims on April 1.”
Tesla
The move is unsurprising, considering the looming end of the first quarter of 2024. Therefore, the Musk-led company is trying to intensify its efforts to urge prospective customers to make the purchase now before the new quarter arrives.
Current pricing
In hindsight, Tesla reduced the RWD and LR AWD version prices by $1,000 in February 2024. For context, Tesla currently sells three Model Y versions in the US market, including the RWD, LR AWD, and Performance.
Presented below are the current prices of the Tesla Model Y in the US:
| Model | Base Price | Dest. Charge | Tax Credit | Effective Price |
| 2024 Tesla Model Y RWD 19-in | $43,990 | +$1,640 | $7,500 | $38,130 |
| 2024 Tesla Model Y RWD 20-in | $45,990 | +$1,640 | $7,500 | $40,130 |
| 2024 Tesla Model Y Long Range AWD 19-in | $48,990 | +$1,640 | $7,500 | $43,130 |
| 2024 Tesla Model Y Long Range AWD 20-in | $50,990 | +$1,640 | $7,500 | $45,130 |
| 2024 Tesla Model Y Perf. LR AWD 21-in | $52,490 | +$1,640 | $7,500 | $46,630 |
Starting on April 1, these prices will increase by $1,000. Therefore, interested customers must hurry to take delivery of a Tesla Model Y to benefit from a lower price.
Other incentives
In addition to the chance to avoid the $1,000 price hike next month, customers who accept delivery of a Tesla Model Y by March 31 will benefit from 5,000 free Supercharging miles. Notably, this offer applies to both cash and finance purchases.
Moreover, buyers who trade in a vehicle can get an extra 5,000 free miles, increasing its incentive to a total of 10,000 free Supercharging miles.
Tesla is known for its aggressive pricing strategy, especially when there is an alarming imbalance in supply and demand. This strategy is crucial for the Musk-led EV maker, as it has no dealers, which usually offer rebates (or increases) to the Manufacturer’s Suggested Retail Price (MSRP). These initiatives demonstrate Tesla’s efforts to increase sales figures in Q1 2024.
Notably, Tesla has already increased the RWD and LR Tesla Model Ys’ pricing in Canada by $1,000 CAD on March 15. It also announced plans to raise the model’s pricing in Europe by about €2,000 ($2,180) on March 22.
