Hot Deal – Tesla Just Cut Their EV Prices By Up To $21,000

Tesla has slashed the price of their EVs by as much as $21,000 today. This is sure to be welcome by tons of drivers considering the switch to an electric vehicle. However, I have a feeling customers who took delivery of their new Tesla yesterday are pretty pissed off today.

The biggest percentage discount is on the Tesla Model Y, dropping a full 20% from $65,990 yesterday to $52,990 today. That means the electric SUV now qualifies for the $7,500 EV tax credit. Add it all up and a Model Y ordered today could be more than $20K cheaper than one ordered yesterday!

These discounts are so severe that they undercut the used car market. AutoTrader lists 584 used base Model Y that now cost more than an equivalent brand-new Model Y. A Tesla spokesperson tried to claim the price drop was due to “a partial normalization of cost inflation.”

“At the end of a turbulent year with interruptions to the supply chain, we have achieved a partial normalisation of cost inflation, which gives us the confidence to pass this relief onto our customers.”

I am happy to see Tesla vehicles being much more accessible, but I honestly don’t know who is buying this explanation. Whatever the reason, lowering the price of electric vehicles so more people can afford them is always welcome. If you’re in the market for a new Tesla, now may be a good time to pull the trigger.