Tesla Cuts Prices On All US Models Again By Up To $5,000

Ready for another round of S3XY price cuts?

Tesla Model X in Ultra Red color

Dan Mihalascu

By: Dan Mihalascu

Apr 7, 2023 at 8:41am ET

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Tesla has applied another round of price cuts for its entire lineup in the United States on April 6, the fifth one including the massive reductions in January 2023, when the automaker slashed prices by up to 20 percent on some models.

These latest price cuts vary between 2 percent and 6 percent, with the base variants of the Model S and Model X getting the most significant discounts of $5,000 each.

Starting with the Model Y, Tesla's best-selling model, the automaker has introduced a new base variant into its online ordering page called simply Model Y, which is priced from $51,630 (including $1,390 shipping).

According to Automotive News citing Munro & Associates, this is the Texas-made Model Y featuring a dual-motor AWD powertrain powered by the 4680 battery cells, which enable an EPA-estimated range of 279 miles, compared to 330 miles for the Model Y Long Range.

In addition to introducing the new variant in the configurator, Tesla cut prices on the Model Y Long Range and Performance versions by $2,000 each, with the former now starting at $54,630 and the latter at $58,630 (both including $1,390 shipping).

Gallery: 2023 Tesla Model X

2023 Tesla Model X (Ultra Red color)

Tesla notes on its website that all Model Y variants are eligible for up to $7,500 in federal tax credits under the new IRS rules, so customers who qualify for incentives can get an even better deal on every available Model Y.

Moving on to the Model 3, which will lose half of the current $7,500 federal tax incentive from April 18 in entry-level RWD guise, Tesla has cut prices by $1,000 for the RWD and Performance trims.

The base Model 3 RWD now starts at $43,630, while the Model 3 Performance is priced from $54,630 (both including $1,390 shipping). The LFP battery-powered Model 3 RWD qualifies for up to $3,750 in tax credits starting April 18, while the Model 3 Performance is eligible for the full $7,500.

In addition to slashing prices on its core models, Tesla has operated even more significant cuts for its Model S and Model X upscale vehicles.

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The base Model S sedan saw a price reduction of $5,000, and now starts at $86,630, while the Model X crossover also received a $5,000 reduction on its starting trim to $96,630 (both including $1,390 shipping).

This week price cuts mark the third round of reductions this year for the two models. Despite that, neither qualify for the tax incentive because their MSRPs exceed price caps of $55,000 for sedans and $80,000 for crossovers and SUVs.