Tesla dropped the price of the Model Y small crossover on Saturday just months after the electric car went on sale. The Model Y Long Range dropped $3,000 to start at $51,190, including a destination fee of $1,200.
The price of the Model Y Performance dropped $1,000 to $61,190.
Tesla’s federal tax credits have expired, although buyers may qualify for state or local incentives to drive that price lower.
The five-seat Model Y Long Range has a range of 316 miles and a 0-60 mph time of 4.8 seconds. The Model Y Performance has a 291-mile range and hits 60 mph in 3.5 seconds. It has 21-inch wheels instead of 19-inch wheels on the Long Range model, a lowered suspension, and performance brakes.
All-wheel drive with electric motors powering both axles is standard, and a seven-seat option costs $3,000 extra.
Not every price was lowered for the Model Y. Tesla’s driver-assistance system, Autopilot, increased from $7,000 to $8,000. Tesla claims it has full self-driving capability but it is limited to highway driving and requires active driver supervision. Every Model Y is equipped with hardware for the driver-assistance systems, which means owners can pay to activate the features after buying the car, although Tesla usually charges more for the software after the car has left the factory. Tesla said in a statement that, “prices are likely to increase over time with new feature releases.”
Deliveries are expected to take up to eight weeks, and a new base Model Y with a starting price of $41,200 and an expected range of 230 miles is due early in 2021.
The price cuts follow similar cuts made in May to the Model S performance sedan, Model X three-row crossover, and the Model 3 compact sedan that shares a platform with the Model Y.