Tesla sells more EVs than anyone else by a large margin, but there’s always plenty of churn in the automaker’s offerings, including with its most popular vehicle, the Model Y. After shifting prices several times over the last year, Tesla reintroduced the entry-level rear-wheel drive Model Y at a far cheaper price point than other variants.
The RWD Model Y starts at $43,990 and comes with a 260-mile range. It sports a 6.6-second 0-60 time and a 135 mph top speed, and, as some have speculated, the SUV likely comes with a less expensive lithium-iron phosphate battery to keep costs low. Despite that, the EV is still eligible for a federal tax credit of $7,500, making it a compelling option that will likely help the Model Y remain the automaker’s best seller. Tesla’s domestic production capabilities give its customers access to tax credits for several vehicles, including the Model 3, Model Y, and some Model X variants. Price limits apply, however, with Model 3s limited to $55,000 and the Model X/Y to $80,000.
Tesla sold more than 430,000 vehicles in the third quarter of this year, but that number is short of estimates. The automaker is targeting 1.8 million vehicles in 2023 and said it would need a 9% increase in sales in the fourth quarter to reach that amount. While that sounds daunting, Tesla has long played with discounts and other promotions to move inventory, so we could see interesting deals as the year closes.
Though it’s still on top, Tesla has increasingly intense competition from legacy automakers and startups alike. General Motors is gearing up to release several new EVs, including the Chevy Equinox EV and Silverado EV, the Cadillac Escalade IQ, and two electric trucks. Ford is losing money on its EV business but is plowing ahead with plans for another electric truck in 2025.
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