How Much is a Tesla?

There are common misconceptions about the price of a new Tesla, which is relatively more affordably than typically-expected: the following…

There are common misconceptions about the price of a new Tesla, which is relatively more affordably than typically-expected: the following is the breakdown in June 2023.

Note that all pricing is accurate as of June 20, 2023 at 5:00am EST.

The effective starting price for a Tesla in June 2023 includes all premium features, Autopilot, Pearl White Multi-Coat paint, and a black 5-seat vegan leather interior as standard. All other options, including Enhanced Autopilot and Full Self-Driving, carry an additional cost.

Tesla Model 3 is Tesla’s most affordable model overall, currently.

Model 3 is a fully-electric sedan, highlighting the modern conveniences of a Tesla.

Model 3 presently comes in three configurations:

Starting price: $40,240

Starting price: $47,240

Starting price: $53,240

All configurations of Model 3 qualify for a $7,500 tax credit, bringing the effective starting price of the most affordable Model 3 Rear-Wheel Drive base configuration down to $32,740. Model 3 Long Range All-Wheel Drive and Model 3 Performance are brought down to $39,740 and $45,740 respectively once factoring in the tax credit.

Note that Tesla has sold-out of most existing Model 3 inventory, and a next-generation refresh is imminently expected which may affect pricing and configurations/specifications.

Tesla Model Y is built on the Model 3 platform as Tesla’s more affordable version of a fully-electric crossover/SUV.

As a result, Model Y also includes many modern Tesla amenities and features.

Model Y is currently offered in three configurations:

Starting price: $47,740

Starting price: $50,490

Starting price: $54,490

Like Model 3, Model Y fully-qualifies for the $7,500 tax credit: this brings the effective starting price of Model Y All-Wheel Drive down to $40,240 after the incentive.

As for the full breakdown, Model Y Long Range All-Wheel Drive costs $42,990 after the tax credit and Model Y Performance comes in at $46,990 following the incentive.

Model Y has already had its rear motor and Full Self-Driving hardware refreshed this year.

While Model S and Model X for that matter are offered as Tesla’s current most high-end, technologically-advanced models, the fact is that most Tesla buyers will purchase Tesla Model 3 or Model Y: Tesla sells a distinctive fraction of these vehicles cumulatively compared to their high-volume counterparts.

Nonetheless, Tesla Model S is offered in two configurations in June 2023:

Starting price: $88,490

Starting price: $108,490

Model S Dual Motor All-Wheel Drive, previously known as Model S Long Range, offers all of Tesla’s most advanced features.

Meanwhile, Model S Plaid includes all of the same technology while adding the title of the world’s quickest production car: a 0–60 miles per hour speed of under two seconds.

Model X, Tesla’s Falcon-Winged SUV, tells a similar story:

Starting price: $98,490

Starting price: $108,490

All configurations of Model S and Model X are too expensive to qualify for a clean vehicle tax credit, making their purchase price the effective price in a majority of states.

Tesla is however offering three years of Free Supercharging on the purchase of a new Model S or Model X, as well as up to $8,500 off of new existing inventory in a bold move.

Aside from paint color and interior upgrades which can total up to $6,500 in the case of the six-seat interior on Model X, Tesla also offers autonomous feature suites in the form of Enhanced Autopilot at $6,000 or Full Self-Driving Capability at $15,000. Both feature suites, which are technically semi-autonomous, can be added after delivery via a subscription or at market price via an owner’s Tesla account.

The average cost of a Tesla is far off of the six-figures that many consumers typically anticipate: new Model S and Model X pricing can be disregarded for a majority of customers as these are Tesla’s high-end luxury models, and Model 3 and Model Y are the most popular vehicles that Tesla predominantly intends to sell by a significant margin.

Therefore, the starting price of a new Tesla sedan is $40,240, or $32,740 or less after incentives. A new Tesla crossover/SUV starts at $47,740, or $40,240 following the federal incentive and before any state incentives or fuel savings are taken into account.

Tesla plans to release increasingly more affordable vehicles and configurations over time, with the exception of Cybertruck and Roadster. Thus, we should plan for the cost-of-entry into the Tesla brand to become significantly cheaper throughout the rest of the decade— not more expensive, and certainly not over the $100,000 threshold that consumers still expect.

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