Prices Reduced For Tesla Model Y Existing Inventory: Savings of $3,920 Compared to New Stock
Tesla has reduced prices for existing inventory for the best selling Model Y.
Tesla existing inventory typically comprises 'demonstrator' models that have less than 50kms driven. For those looking to take delivery of their new Tesla within days rather than weeks, and don't mind a 2023 or 2024 model, this may be a good option for you.
The Model Y Rear-Wheel Drive has been reduced to $53,780 (save $3,920) for 2023 and $54,900 (save $2,800) for 2024. This compares to $57,700 for brand new stock. Driveaway prices for the RWD range from $55,539 to $59,540 depending on the state.
Prices have also been reduced for the Model Y Long Range variants: 2023 $66,400 (save $4,900) and 2024 LR $68,200 (save $3,500). The Performance 2023 model has also been discounted to $78,490 (save $5,810).
Note: Prices above include $1,400 delivery fee and $400 order fee. All prices exclude on-road costs which will vary per state.
The discount have been specifically applied to older inventory models which feature 'Hardware 3' components. New stock which features 'Hardware 4' has better cameras but removes the ultrasonic sensor (USS), and new black 19" Gemini wheels as standard.
These prices cuts follow the most recent price cuts to new Tesla Model Y and 3 stock which has brought Tesla prices to an all time low.
▶️MORE: 2024 Tesla Model Y price and specs | Tesla Model Y Juniper: Everything You Need to Know
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Tesla Model Y Price History
The Model Y has received more aggressive price reductions over the prior 12 months compared to the Model 3. The Rear-Wheel Drive (-$13,400) has received the largest reduction followed by the Long Range (-$12,400) and the Performance (-$12,400).
The aggressive price reductions of the Model Y indicate softening demand as some buyerss have elected to instead buy the updated Model 3 or are waiting for the mid-life update of the Model Y.
In the broader Australian market we are seeing price discounting across the board with other EV models like the GWM Ora, MG 4, Peugeot e-2008, Renault Megane E-Tech, Nissan Leaf and Polestar 2 all reducing prices, aiming to boost sales and clear 2023 excess inventory.
▶️MORE: The Best EV Deals Available Now in Australia (2024)
This trend of price discounting is indicative of a rapidly evolving EV landscape in Australia, where incentives and technological advancements continue to shape consumer choices and industry strategies.
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