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Tesla Model Y Gets Temporary Discount, Further Undercutting Some GM Rivals

Tesla recently cut pricing for the Tesla Model Y, reducing the all-electric crossover’s MSRP by $1,000. The price drop is temporary, and does not affect all trim levels. However, the Tesla Model Y already undercuts the Cadillac Lyriq and Chevy Blazer EV, with this recent price reduction widening the gap even further.

Pricing for the base-level Tesla Model Y Rear-Wheel Drive (RWD) now starts at $44,380, including the destination charge ($1,390). The mid-level Tesla Model Y Long Range now starts at $49,380, including destination. The recent $1,000 price cut is not offered for the range-topping Tesla Model Y Performance, which is still priced at $53,880.

The Tesla Model Y crossover.

According to Tesla’s website, the $1,000 price cut will be in place until the end of February. “Prices will increase by $1,000 or more on March 1,” the automaker states.

Tesla reduced prices for the Model 3 sedan last year just before launching a refreshed model. Rumor has it a refreshed Model Y is also in the works and slated to drop soon.

Tesla Model Y vs. GM Ultium EVs, February 2024
Model and Trim Level Drivetrain Starting MSRP + DFC
Chevy Equinox EV 1LT FWD $34,995
Chevy Equinox EV 1LT AWD $38,295
Chevy Equinox EV 2LT FWD $43,295
Tesla Model Y RWD $44,380
Chevy Equinox EV 2RS FWD $44,795
Chevy Equinox EV 3LT FWD $45,295
Chevy Equinox EV 2LT AWD $46,595
Chevy Equinox EV 3RS FWD $46,795
Chevy Equinox EV 2RS AWD $48,095
Chevy Equinox EV 3LT AWD $48,595
Chevy Equinox EV 2RS Launch Edition FWD $48,995
Tesla Model Y AWD $49,380
Chevy Equinox EV 3RS AWD $50,095
Chevy Equinox EV 2RS Launch Edition AWD $52,395
Chevy Blazer EV 2LT AWD $53,195
Tesla Model Y Performance AWD $53,880
Chevy Blazer EV RS AWD $57,595
Cadillac Lyriq Tech RWD $58,590
Chevy Blazer EV RS RWD $61,790
Cadillac Lyriq Tech AWD $62,090
Cadillac Lyriq Luxury 1 RWD $62,690
Chevy Blazer EV SS AWD $65,995
Cadillac Lyriq Luxury 1 AWD $66,190
Cadillac Lyriq Sport 1 RWD $63,190
Cadillac Lyriq Sport 1 AWD $66,690
Cadillac Lyriq Luxury 2 RWD $66,990
Cadillac Lyriq Luxury 2 AWD $70,490
Cadillac Lyriq Sport 2 RWD $67,490
Cadillac Lyriq Sport 2 AWD $70,990
Cadillac Lyriq Luxury 3 RWD $70,590
Cadillac Lyriq Luxury 3 AWD $74,090
Cadillac Lyriq Sport 3 RWD $71,090
Cadillac Lyriq Sport 3 AWD $74,590

The latest $1,000 price reduction widens the gap between the Tesla Model Y and some of its GM rivals, such as the Chevy Blazer EV and Cadillac Lyriq. The Chevy Blazer EV starts at $53,195 including freight, excluding tax credits, while the Cadillac Lyriq starts at $58,590. In terms of pricing, the Model Y is now more competitive with the mid-range models of the Chevy Equinox EV lineup, including the Equinox EV 2LT FWD ($43,295) and Equinox EV 2LT AWD ($46,595). The base-level Chevy Equinox EV 1LT FWD starts at $34,995.

In terms of sales, the Tesla Model Y leads D-Segment Luxury EV CUVs by an enormous margin. For example, the Model Y sold 105,500 units in Q2 of 2023 alone, as compared to just 1,348 units for the Cadillac Lyriq during the same time period.

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Jonathan is an automotive journalist based out of Southern California. He loves anything and everything on four wheels.

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Comments

  1. The Tesla Model Y is smaller than the Chevy Equinox, and has a spartan interior. I prefer the Equinox over the Tesla even if the Model Y is cheaper because the Equinox has more luxury.

    Reply
    1. Tesla has perfected the art of giving you as little as possible and convincing you it’s good and luxurious. It is still a better package than the Equinox though and they have proven to make at least decent EV’s where GM EV’s are an absolute $hit show on all fronts.

      Reply
    2. And yet, the Equinox EV only has 57 cu ft of cargo space vs the Model Y with 76 cu ft. I think the luxurious Equinox EV is a compelling vehicle for the price, but the 150kW charging limits it to a daily commuter car for most.

      Reply
  2. A temporary price drop is just an incentive. Tesla is doing incentives.

    Reply
  3. So early Tesla buyers continue to get shafted by lower prices on newer more tech updated vehicles.
    Losers .

    Reply
    1. That’s the consequence for being an early adopter in any arena – look at TVs now.

      Reply
  4. Model Y rear wheel drive is not eligible for the federal tax credit, but the all wheel drive is

    Reply
  5. I wouldn’t want one if you gave me one . Sick car brought to you by a sick mind

    Reply

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