Most people probably saw this coming, but perhaps not quite so soon. We just entered the halfway point of the first quarter of 2023, and it seems Tesla has sold every Model Y electric crossover it can produce throughout the course of the quarter.
Hopefully, if you were in the market for a Tesla Model Y, you placed your order when the US EV maker drastically dropped the price from $65,990 to $52,990. Perhaps you waited to see if it would drop further, but were still able to grab one up at $54,990 before there were no units left for the quarter.
We can only hope that Tesla will lock in the Model Y's price at $54,990 so that it continues to qualify for the revamped $7,500 US federal EV tax credit. However, with some major decisions on battery production and materials sourcing coming from the US Treasury Department soon, it's difficult to know how it will all play out.
At any rate, when Tesla dropped the prices on every vehicle in its lineup this year, with the largest reduction on the Model Y, there were all sorts of red flags about a lack of demand. There were also concerns about the future impact on resale value and the used market. We're already seeing Tesla's used values plummet, but the price reductions have clearly worked to boost sales in a big way, and they've even encouraged rival EV makers to follow suit.
According to Electrek, sources with details on the matter shared that Tesla has no build slots left for the Model Y prior to April 2023. If you order a new Model Y today, Tesla says you should expect to take delivery between April and June of 2023. There are, however, still certain configurations available in inventory in some areas, but they're not likely to last.
The Model 3 also comes at a reasonable discount, though it's not as appealing as the Model Y's. It seems the automaker still has build slots available for the electric sedan, as its website shows orders made now will be delivered this month or in March 2023.
If you're considering buying a new Tesla model, the prices may not get much better than they are today, and there's a chance they could rise. Tax credit eligibility will also be in question after next month.