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The Price Tag on a Tesla: Unveiling a Detailed Cost Analysis
By: James Diaz | July 28, 2023
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How to Bag a Great Deal!
Buying a Tesla at the right price is sometimes tricky. At MotoPickers we want to help you get a great Tesla deal. We’re all aware that Teslas don’t exactly come cheap, but you might be wondering, ‘What’s the actual price tag on a 2023 Tesla?’ In fact, many Teslas are now much cheaper than you might assume, so read on and see what you can afford. You’ll be surprised!
The spectrum of Tesla prices varies significantly from the most budget-friendly to the top-tier models, catering to a wide range of budgets and expectations. So to help you decide what’s best for you, we’ve updated this blog with the recent cost variations across all Tesla models. Prices have generally seen a hike over the years, so think of the recent adjustments as rollbacks on those increases, not necessarily as straight-out price cuts. Additionally, we’ve detailed which Teslas are eligible for the updated Federal EV tax credits.
Latest Pricing Options
Though Tesla tends to tweak its prices and trim options rather frequently, we’ve got the latest pricing details for each model right here, with changes marked for easy comparison. It’s noteworthy that while the original Federal tax subsidies on Tesla vehicles may have concluded, the revised credits as part of the Inflation Reduction Act are still very much applicable for select models. Plus, state credits continue to be a sweet deal. Read on to get the lowdown on what you’ll likely shell out for a brand-new Tesla.
Current Cost of a Tesla Model 3
As Tesla’s most budget-friendly option, the Model 3 packs a punch, boasting impressive range and chic design. The base price of the rear-drive Standard Range Plus variant had spiked to $48,190 as of March 2022, but some of those rises were rolled back, reducing the sticker price to $43,990. Tack on the new $1,390 destination charge, and the entry-level Model 3 stood at $45,380. Following two further price cuts of $1,000 each, the total cost slipped to $43,380. However this has now dropped further to $41,630, delivery included. This model promises an estimated range of 267 miles.
The Long Range variant, having temporarily disappeared from Tesla’s site, claims an EPA-rated mileage of 353 miles and kicked off at $59,190 but it now starts from $47,240 as of June 2023. The sportier Performance edition, boasting an EPA-rated range of 315 miles on full battery, is now tagged at $55,380, delivery inclusive—massively down from its initial $64,190. Both Long Range and Performance trims feature a standard all-wheel drive thanks to a dedicated electric motor at each axle.
Plus, recent revisions to the Model 3’s former China-supplied batteries mean that as of June 2023, all trims of this compact sedan now qualify for the full $7,500 tax credit.
Present Market Price of a Tesla Model S
The Tesla Model S, exclusively outfitted with all-wheel drive, is quite a bit pricier than the Model 3. Its Long Range variant, boasting an estimated full-charge capacity of 405 miles, has already seen a worthy price cut, dropping from its last listed MSRP of $106,190 to $96,380. It then dipped further to a fresh start price of $91,380, delivery included (though not enough to nab the Inflation Reduction Act’s tax credits). As of June 2023, it is further reduced to $89,880, destination included.
Following price hikes on its tri-motor Plaid version—from $119,690 to $131,190 after Tesla canned the production of the 520-mile, higher-performance Plaid+ model—the price tag shot up to a staggering $137,190. This was eventually slashed to $116,380—lower than any previous Plaid version—and has since settled at $109,880, noticeably cheaper than a few months prior.
For car enthusiasts, this might be a real steal. Although its range drops to an estimated 348 miles, the Model S Plaid compensates with a manufacturer-estimated less-than-2-second sprint from 0-60 mph and a top speed tipping 200 mph. In our trials, even a toned-down dual-motor Tesla Model S Plaid pulled off a 0-60 mph dash in barely 2.1 seconds, cementing its status as the speediest production car we’ve tested.
What’s the Going Price for a Tesla Model X?
Recognized for its iconic “Falcon Wing” doors, the Model X SUV takes the crown as Tesla’s priciest offering to date. Boasting an estimated range of 332 miles, the dual-motor Tesla Model X had a price drop from a hefty $122,190 and now stands at a more approachable $99,880.
A sibling to the Model S Plaid, the Model X Plaid’s range slightly dips to an estimated 311 miles, but it compensates with faster acceleration and a higher max speed. With earlier price tags hitting a staggering $140,190, recent months have seen this trim’s cost plunge to a closer-to-launch price of $121,380 and, as of June 2023, to an even sweeter $109,880.
The Model X offers a standard five-seater configuration. If you’d like to add an extra seat, it’ll cost you an additional $6,500, while a seven-seater setup comes with a $3,500 upcharge.
How Much Would a Tesla Model Y Set You Back?
The Tesla Model Y, a compact SUV offering as of May 2023, has seen a price dip from its previous $56,380 down to a more accessible $51,880. This came after the price of its entry-level trim saw a hike to $67,190 and then a substantial drop to $54,380. This fetches you a Long Range model that promises an EPA-estimated range of 330 miles on full battery charge.
Indeed, Tesla prices are known to fluctuate, but here’s some good news—the five-seat and seven-seat Long Range now qualifies for the Federal EV tax credit, offering savings of up to $7,500. Tesla has also introduced a new lower trim, serving as its base Model Y, sporting a $48,880 price tag with a range of 279 miles.
There’s also the Model Y Performance variant on offer, which pledges an estimated range of 303 miles. It now flaunts a pleasantly reduced rate of $55,880 (down from $58,380 in January 2023), a significant cut from its former $71,190 listing. The Model Y typically offers five seating spots, but for an extra $3,000, you can add a compact third-row bench to Long Range models, upping the SUV’s seating capacity to seven. And if towing’s on your agenda, an additional $1,000 unlocks a tow hitch, leveraging the SUV’s generous 3,500-pound towing limit.
The Cost of a Fresh-off-the-Lot Tesla Roadster
Tesla’s forthcoming Roadster has big dreams—clock 60 mph in a breathtaking 1.9 seconds and reach a staggering range of 620 miles. Expect starting prices in the ballpark of $200,000.
The elite Founders Series, tailored for the first 1,000 buyers, is tagged around $250,000. This positions the Roadster to potentially outprice its Tesla kin.
Though Tesla is currently accepting reservations for the Roadster, the official date it hits the market remains a mystery.
The Price Check on a Tesla Cybertruck
Ordinary prices for a full-size pickup truck have long been north of $50,000, but the Tesla Cybertruck aims to break this trend. This futuristic truck was initially set to start around $39,900, with a roughly $10,000 hike to go for a dual-motor all-wheel-drive variant, and a hefty upcharge—around $30,000—for the tri-motor all-wheel-drive version.
However, those initial price points have since vanished from Tesla’s website, and it’s broadly speculated that the final truck will come with a heftier price tag. (On a related note, you might be interested in knowing the production cost of the Cybertruck for Tesla, along with potential insurance costs for buyers.)
Like with the Roadster, Tesla is currently accepting reservations for the Cybertruck, though the exact sales release date remains elusive, following a string of missed deadlines since its 2019 reveal. The latest buzz suggests that Cybertruck production will kick off later in 2023.
What’s the Asking Price for a Tesla Semi?
The Tesla Semi, which has garnered pre-orders from giants like Walmart and J.B. Hunt, is anticipated to start at a cool $150,000. Special Founders Series versions are touted to fetch around $200,000. While no specific sales date has been shared, Tesla has revealed that the first Semis were delivered in early 2023—a slight delay from their original 2021 estimate.
Exploring Tesla’s Full Autonomous Driving
Tesla provides an add-on called Full Self-Driving Capability, currently priced at $15,000 (up from its previous $10,000). While Tesla pledges that this feature will eventually enable the car to steer itself fully, as of now, it still requires some help from the driver. It offers advanced assistance, but not totally autonomous driving.
Taking a Look at the Overall Tesla Cost
We want you to know what you need to pay, and we recommend that you read the above post in full. But if you just need a summary of headline numbers, here is a good starting point. Remember, though, that different trims can change these prices, so check out the detail above!
- Tesla Model 3 – Priced at $44,380
- Tesla Model S – List price – $96,380
- Tesla Model Y – Going for a neat $56,380
- Tesla Model X – Yours for $111,380
- Tesla Roadster – Estimated ballpark of $200,000
- Tesla Cybertruck – Estimated steal at $39,900
- Tesla Semi – Estimated sticker price of $150,000