Hybrids & Electrics

How Does the Tesla Model Y’s Price Compare To Other Vehicles?

In just a short few years, Tesla has gone from creating electric sports cars to cars that regular Americans can afford. This is all part of Tesla’s secret master plan, and Tesla’s many affordable options are part of Tesla’s push to electrify the world. Here’s a look at just how affordable the Tesla Model Y really is compared to other SUVs in its class.

Pricing and options

Like Kelley Blue Book reported, the Model Y currently only has two options, Long Range and Performance. Each option has dual-motors and all-wheel drive, but as the names implies, the Long Range option sacrifices superior performance for a longer range while the Performance option sacrifices battery range for better performance. 

The Model Y with Long Range gets 315 miles on a full charge, and it starts at about $49,990, according to Kelley Blue Book. The Performance trim gets about 291 miles on a full charge, and it starts at about $59,990. Adding Tesla’s semi-autonomous self-driving feature, Autopilot, will also add about $8,000 to the price tag of the Model Y.

On top of that, Kelley Blue Book said that if you want your Model Y to come in a different color, it’ll cost about $1,000. This price tag doubles to $2,000 if you want your Model Y to be red.

Other upgrades, such as a trailer hitch or 20-inch wheels, will also cost $1,000 and $2,000 respectively. In 2021, Tesla also plans to add an optional third-row that’ll allow the Model Y to seat seven people. This option will cost about $3,000.

How the Model Y compares to other Teslas

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Currently, the Model 3 is the most affordable Tesla that customers can buy, and it’s significantly cheaper than the Model Y is. This is mostly because Tesla still offers a Standard Range Model 3 with rear-wheel drive, and that version of the car only starts at about $37,990. 

However, even when the Model 3 is equipped with a similar powertrain to the Model Y, the price difference is still pretty stark. Kelley Blue Book wrote that a Model 3 with Long Range and all-wheel drive will cost about $46,990, and that’s still about $3,000 cheaper than the cheapest Model Y. 

But of course, since the Model Y is a compact crossover SUV, it’s larger than the Model 3 is, and as a result, it’s not a fair comparison. For example, the Model X is an $80,000 mid-size SUV that Tesla makes, and it’s significantly larger and more expensive than either of those Teslas are. 

How the Model Y compare to its competitors

A man films himself looking at a Tesla Model Y
A blogger films himself looking at a Tesla Model Y | ATTILA KISBENEDEK/AFP via Getty Images

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While the Model Y’s base price tag of about $50,000 seems steep for a compact crossover, it’s actually not that unusual for its segment. At the end of the day, the Model Y is still an EV, and as a result, it’ll cost a bit more than its gas or diesel counterparts. 

However, like Kelley Blue Book wrote, when the Model Y is compared to its competitors in the electric SUV segment, it’s actually pretty affordable. For example, the Jaguar I-Pace starts at almost $70,000, and it only has a 234-mile range. The Audi e-tron will start at about $66,000, and it’ll also have a lower range than the Model Y has. 

BMW is also planning to sell the $55,000 iX3, while Mercedes is planning to sell its EQC 400 for about $70,000. All of these Tesla competitors have their pros and cons, but will also have one thing in common. Unlike the Model Y, customers can get a $7,500 federal tax credit for those SUVs, and that’ll help customers save a lot of money.