Tesla is undoubtedly the leading automaker that sparked the electric vehicle uptake. Although many buyers are interested in its models, they are discouraged by its expensive amount. According to Bloomberg-compiled global pricing data, China’s Tesla Model Y is the cheapest at an average of $40,411 compared to other countries.
EVANNEX indicated that the announcement follows several price reductions in China and a manufacturing expansion that significantly increased the output capacity at Gigafactory Shanghai.
Top 10 countries for the cheapest Model Y
| Rank | Country | Price (multi-state average) |
| 1 | China | $40,411 |
| 2 | Slovakia | $44,323 |
| 2 | Latvia | $44,323 |
| 2 | Lithuania | $44,323 |
| 2 | Estonia | $44,323 |
| 3 | Japan | $46,300 |
| 4 | New Zealand | $48,393 |
| 5 | Macau | $49,509 |
| 6 | France | $49,617 |
| 7 | Australia | $51,093 |
As stated, China is home to the cheapest Tesla Model Y worldwide for an average price of $40,411. Interestingly, the top 5 is completed by four countries (Slovakia, Latvia, Lithuania, and Estonia), tied for the second place with the Tesla Model Y costing an average of $44,323.
Looking at the second half of the list, we can see that Japan is the third country for the cheapest Model Y at an average price of $46,300. It is followed by New Zealand, Macau, and France, with a slight difference in Tesla Model Y prices. Meanwhile, Australia is at the bottom of the list, with Model Y costing an average of $51,093.
Countries with the most expensive Tesla Model Ys
As per the report, the most expensive places in the world to buy a Tesla Model Y were Singapore and Israel. In fact, Singapore has the most expensive Model Y out of 42 worldwide markets analyzed in the index for a base price of $142,471 ($103,800) and some models for over $180,000 after levies. Meanwhile, the US was in the 9th place in the ranking.
“Automobiles are generally more expensive in places like Singapore and Israel due to higher taxes, duties and registration fees versus China and Europe. If we see an economic slowdown in 2023, we could see commodity prices fall, so input costs would go down. If this happens, I’d expect Tesla and most other automakers would cut prices again to boost demand.”
Analyst Seth Goldstein of Morningstar Research Services covering stocks
However, Singapore-based finance expert Alexander Ang explained that the Tesla Model Y is the most competitive electric SUV option in Singapore and that these prices level is prevalent even in non-Tesla cars.
“Sure, it’s definitely expensive but it’s the same for any car in Singapore. A similar-sized EV from other manufacturers is more expensive than Tesla because of additional dealership charges and they don’t have as much legroom in the rear.”
Alexander Ang, finance expert in Singapore
Nonetheless, recent Tesla sale and delivery records show that buyers continue to favor it over competing products despite the high prices of Tesla vehicles in many countries. Well, it is not surprising given the Musk-led automaker is a renowned business with a reputation for offering novel and competitive technologies.
