Tesla announced the Model Y earlier in 2019, though the media was less than impressed initially. Competitors for the Model Y’s role could theoretically include anything from the Hyundai Kona EV to the Jeep Grand Cherokee. The Model Y is a Model 3-based crossover with room for additional seating and slightly shorter range. 

Tesla’s Model Y provides Model X seating capacity with reduced range and performance, though it comes in at about half the cost of a Model X.

How Much Will The Tesla Model Y Cost?

The Model Y will have four models—two RWD and two AWD. Currently, the Tesla Model Y has three available models—ranging from $48,000 to $72,000. A fourth entry-level model will be added in 2021 and list for about $40,000.

Cost of a vehicle is much more complicated than the MSRP. It commonly includes preventive maintenance, fuel or recharge costs, and repairs. The average consumer paid nearly $40,000 for their vehicle in 2018, not including any other cost factors. A Honda CR-V can hold 14 gallons of fuel while using it at a rate of about 30MPG—a standard range of roughly 420 miles. 

A Honda CR-V generally costs around $35 per fill up, while a Supercharger refill for a Model Y will cost around $35, for shorter range. This same charge at home would cost around $16—roughly half the cost of filling up the CR-V, which drivers cannot do at home, on their own gasoline.

Most Tesla owners charge their ride at home, on grid-managed power rates—averaging roughly $0.13/kWh, compared to Tesla’s $0.20-0.35/kWh. When charging at home, drivers can save substantially on travel costs.

What Models Will Be Available For The Model Y?

Tesla’s Model Y will be released with three versions, ranging from the RWD, Long Range model, to the performance, AWD model. There will not be an RWD performance model or an AWD standard range model. Model Y Standard Range RWD version will be added sometime in 2021.

The Four Tesla Model Y Versions:

• RWD Standard
  • MSRP: $39,000
  • Range: 230 Miles
  • 0-60: 5.9 seconds
  • Top Speed:120 MPH
  • Seating Availability: 5 standard, up to 7
• RWD Long Range
  • MSRP: $47,000
  • Range: 300 Miles
  • 0-60: 5.5 seconds
  • Top Speed:130 MPH
  • Seating Availability: 5 standard, up to 7
• AWD Long Range
  • MSRP: $51,000
  • Range: 280 Miles
  • 0-60: 4.8 seconds
  • Top Speed:135 MPH
  • Seating Availability: 5 standard, up to 7
• AWD Performance
  • MSRP: $60,000 
  • Range: 280 Miles
  • 0-60: 3.5 seconds
  • Top Speed:150 MPH
  • Seating Availability: 5 standard, up to 7

Each Model Y version will include customization options ranging from Enhanced Autopilot to color, rims, and seating expansion. Drivers should expect to pay around $2,000 for the third row of seating. A massive, 15-inch laptop-sized touchscreen will follow suit from the Model 3, replacing the instrument cluster and infotainment system.

When Will The Model Y Be Released?

Tesla has announced the Model Y release for some time in 2020, with additional features to be rolled out through 2021. Tesla has experienced delays before, such as with the Tesla Semi, so the unspecified 2020 launch may experience some similar difficulties, due to limited battery supplies. Delays with Tesla’s ‘Gigafactory’ in China seem to have subsided, however, which may allow Tesla to deliver on time. 

Buyers beware, however, Tesla canceled production of the Model 3 RWD Long Range Trim and expects users to either downgrade or shell out some extra cash for the AWD trims. This may result in some alterations to Model Y pre-order fulfillment as vehicles are shipped out in 2020. 

All images provided by the manufacturer unless otherwise noted.