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Home ยป Tesla Model Y and Model X Prices Lowered by $7,500 for New Tax Credit

Tesla Model Y and Model X Prices Lowered by $7,500 for New Tax Credit

Tesla Model Y and Model X Prices Lowered by $7,500 for New Tax Credit

Tesla has reduced Model Y and Model X pricing on its US website by $7,500 to account for the revived federal EV tax credit. Order pages now showcase the new starting prices after factoring in the credit.

On the design studio pages for the Model Y and Model X, Tesla provides the option to see the price “including potential savings”. Selecting this shows the starting MSRP lowered by the full $7,500 credit amount.

For example, the Model Y Long Range now starts at $41,490 instead of $48,990 when accounting for the credit.

Tesla Model Y and Model X Prices Lowered by $7,500 for New Tax Credit

In an email to customers, Tesla clarified that buyers can apply the full $7,500 tax credit directly at the point of sale to lower the purchase price. This savings applies to new 2024 Model Y and Model X orders.

The revised online pricing makes it easier for customers to understand their true out-the-door cost after claiming the credit on their taxes. Tesla is essentially passing on the savings upfront.

The new Inflation Reduction Act has made all Tesla vehicles delivered after January 1, 2024 eligible again for the federal EV tax credit. Tesla’s pricing adjustment helps showcase the benefit.

Between the instant discount and streamlined communication, Tesla aims to maximize utilization of the revived incentive. Lower prices could further boost demand as buyers factor the $7,500 savings into their purchase decision.