Another Day, Another Tesla Model Y Price Hike

If you’re a fan of the Tesla Model Y, we’ve got some bad news. Tesla has once again jacked up Model Y SUV prices. Price hikes are expected throughout the automotive industry to keep up with inflation, but Tesla is a repeat offender. Multiple Tesla models just got more expensive.

Did the Tesla Model Y price go up?

The Tesla Model Y recently received a price hike. A few days ago Tesla was selling the Model Y Long Range for $62,990. Its new price is $65,990. The Model Y Performance’s price increased from $67,990 to $69,990.

A blue 2022 Tesla Model Y.
The 2022 Tesla Model Y | Tesla

RELATED: The 2022 Tesla Model Y Fails to Beat the 2022 Kia EV6 in Real-World Range, Kia Claims

The Model Y’s recent price hike is one of many price fluctuations for the controversial Tesla nameplate. At one point, Tesla was selling a standard range Model Y for $39,990. This was near the height of the nameplate’s popularity.

Tesla’s brand has endured through several reports of reliability issues and drastic price fluctuations. The Model Y was once the most affordable electric SUV that the company had ever produced. Today, it’s one of the most expensive electric SUV models on the market.

Tesla price fluctuations may temporarily benefit the company’s bottom line, but these changes are damaging Tesla’s reputation as well. Furthermore, more affordable alternatives to the Model Y have surfaced. Tesla could have gotten away with these price hikes when it was the only game in town. Since so many automakers are now offering electric SUVs, consumers can simply choose a more affordable model over the Model Y.

Is the Tesla Model Y worth its new price?

Tesla Model Ys may be expensive, but that doesn’t necessarily mean that the EV doesn’t provide great value for its price. The Tesla Model Y has great driving range and impressive performance specs.

The 2022 Tesla Model Y | Tesla

RELATED: Tesla Model Y vs. Mazda CX-5: a More Reliable SUV?

The Tesla Model Y Long Range has an estimated 318-mile driving range. That’s leaps and bounds beyond the current industry standard of 200-250 miles of range. The Model Y Long Range can go from 0-60 miles per hour in just 4.8 seconds.

The Tesla Model Y Performance gets 303 miles of driving range. It can go from 0-60 miles per hour in a mind-blowing 3.5 seconds. It has a top speed of 155 miles per hour.

Edmunds praises Tesla’s vast network of superchargers, the Model Y’s roomy seating area, and its quick acceleration.

Is the Tesla Model Y the best electric SUV?

The Tesla Model Y was once the best electric SUV. Today, several EVs like the Volkswagen ID.4, Ford Mustang Mach-E, and Hyundai Ioniq 5 pose a serious threat to the Model Y.

RELATED: Consumer Reports Doesn’t Recommend the New Tesla Model Y and Model X (Again)

The Volkswagen ID.4 is outselling the Tesla Model Y in Europe. The 2022 Hyundai Ioniq 5 recently won the World Car of the Year award. It’s tough to call the Model Y the best electric SUV, epsecially when you factor in affordability. The Ioniq 5 Limited AWD is more affordable than the Model Y Long Range and arguably provides more value.

Tesla’s electric SUV is no longer the segment leader that it was once because of affordability and competition. Will the Model Y ever regain the favor of the public?

RELATED: The Tesla Model Y Dominates Rivals as Best Luxury Electric SUV