Tesla, despite facing a slight decline in its lead, still maintains its position as the top electric vehicle (EV) manufacturer globally in terms of market capitalization. Other automakers are following in Tesla’s footsteps and introducing electrified models, but Tesla remains ahead by offering four highly sought-after EV models. However, Tesla’s pricing has increased over the years and is prone to fluctuations. In 2023, here’s an update on where Tesla’s pricing currently stands.
Tesla Price in 2023?
In 2023, Tesla’s lineup of electric vehicle models includes a diverse range of options, with varying trim levels and prices to suit different budgets and preferences. To help you make an informed decision about which Tesla model to purchase, we’ve put together a comprehensive list of current pricing for each available model, starting from the base model and going all the way up to the maximum manufacturer suggested retail price (MSRP).
Starting with the Model 3, Tesla’s most affordable EV, here are the current prices for each available Tesla model.
2023 Model 3 prices: The “cheapest” Tesla
In 2023, Tesla offers several EV models at varying trim levels and prices, with the Model 3 being the most affordable option. However, it is important to note that affordable for a Tesla does not mean cheap, especially considering the price of the Model 3 when it was first introduced in 2016. Initially, the EV was marketed at a price below $35,000, but it was only available at that price for a brief period of time.
The current pricing for each available Tesla model, including the Model 3, ranges from its lowest bare-bones starting price to its maximum MSRP. The Rear-Wheel Drive trim of the Model 3 starts at an MSRP of $39,990 with no upgrades, excluding taxes, destination, or other fees. However, the price can go as high as $59,490 if you opt for all available upgrades, including red paint, 19″ Sport Wheels, black and white interior, and the forthcoming full-self driving capability, which costs an additional $15,000.
If you do not want to purchase the full-self driving capability, Tesla offers a less robust add-on called Enhanced Autopilot, which provides features such as auto lane change, autopark, and navigation on autopilot. This option costs only $6,000 instead of the $15,000 mentioned above.
Although the Long Range Model 3 used to range from $55,990 to $72,490, this version is currently unavailable until sometime in 2023, so pricing has been removed for now.
In 2023, the Performance version of the Model 3 starts at an MSRP of $52,990, significantly lower than the 2022 price. The price can go as high as $70,990 with 20″ Überturbine wheels and other add-ons mentioned above.
A new sales tactic for Tesla is a separate fee for charging connectors, which costs an additional $200 to $400, regardless of the model or trim selected. While the Model 3 prices have increased since its introduction as Tesla’s cheapest EV, buyers can still save money by purchasing a pre-owned model.
All trims of the 2022-2023 Model 3 EVs qualify for some level of federal tax credits, following the updated battery guidance from the US Treasury Department. For example, the Standard RWD Model is eligible for up to $3,750 in credits, while the Performance model is eligible for up to the full $7,500. These prices are accurate at the time of writing, but Tesla’s pricing can change frequently, so it is essential to keep an eye out for any updates.
Tesla Model Y prices
Despite the ongoing delays with the Cybertruck, the Tesla Model Y is currently the newest offering from the EV manufacturer. While deliveries began in early 2020, the Model Y has since evolved to include three different options and prices, all of which are more expensive than its compact sibling, the Model 3.
Similar to the Model 3, we have compiled the pricing information for the different trim levels of the Model Y. The prices provided range from the stripped-down, basic MSRP to the fully-loaded model that includes extras such as red paint, 20” Induction Wheels, black and white interior, tow hitch, and full self-driving (FSD) capabilities (which can also be replaced with the Enhanced Autopilot for $6,000).
The Dual Motor AWD Model Y starts at $46,990 for the most basic version, while a fully loaded version with all the available features can cost as much as $67,990.
The Dual Motor Long Range Model Y has a starting MSRP of $49,990, but can reach $74,990 when fully equipped with all available features, including a seven-seat interior option, which is only available for the Long Range trim and costs an extra $4,000.
Meanwhile, the Model Y Performance starts at $53,990 and can be souped up to cost up to $72,990.
In recent news, the IRS reclassified the Model Y as an SUV, which means its MSRP limit has increased from $55,000 to $80,000. This allows the Model Y to qualify for federal EV tax credits up to $7,500.
Tesla Model S prices
The Model S is one of the oldest electric vehicle models from Tesla and continues to be in production despite the emergence of more affordable models like the Model 3 and Model Y. However, sales of higher-end EVs like the Model S have slowed down a bit in recent years.
Despite this, consumers who can afford the prices of Tesla Model S trims are still buying, especially those interested in the high-end specs the Plaid trim offers. Currently, the Dual Motor Model S has an MSRP starting at $84,990, which is a few thousand dollars cheaper compared to late 2022. The base model with no add-ons provides over 400 miles of EPA estimated range and can travel from 0-60 mph in just over three seconds.
For those who want more features, the loaded version of the Dual Motor Model S comes with red paint, cream (or black and white) interior, and FSD capabilities, all for a price of $109,490. This version also includes 21″ Arachnid wheels, which lower the trim’s range to 375 miles.
However, the impressive specs of the Dual Motor Model S pale in comparison to the Plaid trim, which starts at an MSRP of $104,990 with no upgrades. But to get all the bells and whistles, including the Arachnid wheels that reduce range by approximately 48 miles, you’ll have to pay $129,490.
In 2023, Tesla has lowered prices of all its models multiple times, and Model S customers now have the option to choose the standard steering wheel again, in addition to the yoke. Despite competition from newer models, the Model S continues to be an attractive option for luxury EV buyers.
Prices for 2023 Tesla Model X
Despite the impressive performance of the Model S Plaid, it is not Tesla’s most expensive model anymore, thanks to the Plaid version of the Model X, which was introduced in 2022. The Model X offers the most spacious interior and exceptional performance, but it comes at a premium price. The Model X is available in two trims.
The Dual Motor Model X has a starting price of $94,990, which is lower than its 2022 counterpart. With additional features such as 22″ Turbine wheels, cream interior, and a six-seat interior that includes captain’s chairs for a $6,500 upgrade fee, the price can go up to $126,990. The seven-seat option is available for $3,000 less.
Tesla’s Model X refresh also introduced the Plaid version to replace the Performance trim. The Model X Plaid starts at $104,990 and can reach up to $130,490, including all the expensive add-ons. It’s worth noting that the Model X Plaid is only available in the six-seat configuration. Although the Model X is expensive, it offers top-of-the-line features that justify its price.
Potential cost of upcoming Tesla models
It has been quite some time since Tesla has added new models to its range, with no additions in the past three years. However, the automaker has been hinting at two new electric vehicles, the Cybertruck and the 2nd Generation Roadster, for the past six years.
The exact pricing details of these upcoming vehicles have been a topic of speculation for a while, and as of 2023, Tesla is still keeping the information under wraps. It is safe to say that their prices may have changed over the years, but we will have to wait for an official announcement from Tesla to know for sure.
Cybertruck
The Tesla Cybertruck was initially offered in three different trim levels, each with its own unique price point.
- Single motor RWD – $49,900
- Dual motor AWD – $59,900
- Tri motor AWD – $79,900
Despite being one of the most highly anticipated EVs in recent years, the Tesla Cybertruck has experienced numerous production delays. While the vehicle was originally priced in three separate trims with varying MSRPs, the current cost of the Cybertruck remains unknown. Tesla’s website has not listed the pricing and specs of the Cybertruck since October 2021, leaving many potential buyers in the dark.
Fortunately, with the ramping up of operations at Gigafactory Texas, the Cybertruck seems to be closer than ever to reaching scaled production. In May of 2022, Tesla resumed taking reservations for the Cybertruck, albeit for North American customers only. The reservation fee is a mere $100, making it an accessible option for those eagerly awaiting its release.
Tesla enthusiasts and investors have been eagerly anticipating the release of the Cybertruck for years now. While its production has been delayed multiple times, there seems to be some light at the end of the tunnel. The Cybertruck is expected to reach scaled production soon, as Gigafactory Texas has begun to ramp up operations.
Although Tesla removed the pricing and specs of the Cybertruck from its website in October 2021, the automaker has resumed taking reservations for North American customers. Tesla requires only a $100 down payment for a Cybertruck reservation.
Recently, Tesla shared a timeline for the Cybertruck delivery event, which is expected to take place in Q3 of 2023. It is speculated that the event will include official pricing details for the Cybertruck. With Tesla being so tight-lipped about the Cybertruck, it will be interesting to see how the pricing and specs stack up against the competition once they are officially released.
2nd generation Roadster
Tesla enthusiasts have been eagerly anticipating the arrival of the Cybertruck for more than four years, but their wait for the 2nd Generation Roadster has been even longer. The Roadster was first introduced in 2017, and its potential release has been a source of excitement for Tesla fans ever since.
Despite initial plans to begin production in 2020, the 2nd Generation Roadster from Tesla has faced continuous delays due to the company focusing on other electric vehicle (EV) models, especially the Cybertruck. Tesla first revealed the revamped Roadster back in 2017, with a reservation cost of $50,000 and an initial price tag of $200,000. The Founder’s Series Roadster was also available for a limited production run at a higher price of $250,000, which required the full payment within ten days of the reservation. Although the Founder’s Series has already sold out, as of 2023, Tesla no longer lists any pricing for the 2nd Generation Roadster, and there is no mention of the Founder’s Series. However, it still requires an upfront reservation cost of $50,000 to hold a spot in line. While fans eagerly await its arrival, they can watch the original unveiling of the Roadster in 2017.
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