Tesla’s Model Y Crossover EV Is Already Getting A $1,000 Price Hike

tesla model y
If there’s one that you can expect with Tesla pricing; it’s the unexpected. The company ruffled more than a few feathers over the past month when it reduced prices across the board on the Autopilot feature and its existing EV lineup: the Model S, Model X, Model 3. The company then reversed course by raising prices after complaints from customers.

Now, the company is again raising eyebrows by increasing prices on its all-new Model Y, which was just revealed a little less than two weeks ago. At the unveiling of the crossover EV, Tesla CEO Elon Musk announced that pricing for the Standard Range, Long Range, Dual Motors AWD and Performance models would come in at $39,000, $47,000, $51,000 and $60,000 respectively. Today, the company has raised the price of the latter three by $1,000 across the board.

Given that the Standard Range mode won’t be released until Spring 2021 – well after the other three trims – it is not currently available for preorder on the website. So, we don’t know if the $1,000 price hike will also extend to it when precoders eventually open up.

tesla model y 2

Tesla was supposed to be a “different” kind of car company that doesn’t resort to pricing trickery that customers have grown tired of when it comes to traditional dealerships. However, the events of the past quarter have left many asking a lot of questions about the company’s policies (and potential cash flow problems).

In the tweet above, Musk defended the pricing rollercoaster, saying in effect that everybody does it. Musk also announced in a tweet that the prices on Tesla’s inventory cars will also increase by around 3 percent starting April 1st.

tesla model y 5

The Model Y is Tesla’s attempt to field an entry into the booming compact crossover market. The vehicle is largely based on the Model 3 sedan, and shares about 75 percent of its components, including much of the interior. The vehicle can travel up to 300 miles (Long Range) and can accelerate from a standstill to 60 mph in as little as 3.5 seconds (Performance). Despite its small size, the Model Y also is available with an optional third-row seat which boosts total passenger capacity to 7.

The first Model Y deliveries are pegged to arrive in Fall 2020 – that is if Tesla can stick to its schedule, which is often a challenge for the company.