Tesla Model Y Standard Range AWD to be priced at $59,990 USD

[Daekwan]

Just wait until all the legacy auto makers raise their prices for the next model year or they might follow Tesla model to increase whenever. Either way, we, the consumers, are F****D.

With current pricing, we need to be F'd. People are simply paying WAY too much stuff right now, especially new cars. Nobody needs a new car. Let me say that again.. Nobody needs a NEW car. Anybody that truly needs a car to drive, will take anything they can get. And while used cars are also crazy expensive, the reality is there are still millions of used cars in the $20K range. Those vehicles.. especially the ones that avg 30mpg or so.. will do just fine for the next 3-5 years while all this craziness dies down.

I think I read recently the avg price of the new car was $47K. You combine that with taxes & titles and that means people are walking out of dealerships with $50K vehicles and most with probably 72-96 month loan rate terms.. Prices are up big, but salaries have not increased much over the past few years. It's not like people are suddenly making a lot more money. At most the typical American household got a couple rounds of stimulus checks but all of that stuff was now years ago.

Consumers need to get their spending under control. And as much as we EV-owners like to show others how much money we are "saving" on gas right now. The reality is most of us have spent anywhere from $50K to $150K on new EVs + home charging installations to make that switch from ICE to EV. I know my wife and I both purchased two new EVs last year, each totaling almost $50K each + $2,700 to install two separate wall chargers. That's a bit over $100K that we have prepaid upfront to make the switch to a 100% EV home. And while its still a smart bet as we were likely going to purchase new vehicles anyways & the savings will continue to add up over time.. there is simply no way the typical American household is now able to do the same thing. Even if they wanted to, the prices of new cars mean those cars are now $60K vehicles and it would take $120K upfront to do the same switch as we were able to do last year.

TL: DR.. keep driving whatever you already have right now for another 2-3 years lol.. until prices return to reality.

 

[BreatheEasier]

"I think I read recently the avg price of the new car was $47K. You combine that with taxes & titles and that means people are walking out of dealerships with $50K vehicles and most with probably 72-96 month loan rate terms."

When you also look at average US income per household, according to the US Census, the median household income was $67,521 in 2020. That level of income cannot sustain this type of out-of-control market pricing, regardless of the excuse. And while prices are skyrocketing, corporate profit is soaring (Marketwatch article). Consumers are being taken advantage of, and the panic behind the purchase is fueled by the media hype over inflation, scarcity, etc. As you said, Daekway, nobody "needs" a new car, especially a $62K+ car. People are pre-ordering Teslas like they are never going to be made again, and many (do a search) are simply buying to flip them, either as overpriced trade-ins, or outright sales to Carvana, etc. For most US consumers, to pocket $10-15K in less than a week on a $100-250 deposit is like winning the lottery.

This again reminds me of the housing crisis not too long ago. Consumers panic buying beyond their means. Houses overpriced ahd bad/absurd load terms. And I'm not speaking anecdotally. I owned a successful REIT during an 8-year span that covered that time frame, and 100% purchased foreclosures that were a result of absurdity like this. It will all crumble down. Maybe not in the next 24 months, but I expect around 30-36 months the market implosion for vehicles will be epic. And of course, those who made bad choices will be looking for bailouts.

 

[texas_star_TM3]

I think I read recently the avg price of the new car was $47K. You combine that with taxes & titles and that means people are walking out of dealerships with $50K vehicles and most with probably 72-96 month loan rate terms.. Prices are up big, but salaries have not increased much over the past few years. It's not like people are suddenly making a lot more money. At most the typical American household got a couple rounds of stimulus checks but all of that stuff was now years ago.

well said... when we bought my wife's SUV the dealership offered us an 8yr (!) loan which I was shocked that they even exist.
People loaning money *well beyond* the powertrain warranty is crazy.

aside from paying an insane amount of interest on a depreciating asset - once some major $$$ post warranty repairs hit... you are screwed if you can only barely afford the monthly payments to begin with

 

[mangrove79]

Average Tesla requires 28kWh for 100 miles X .35 $9.80.. Used Prius almost 3 Gal. At $5 gallon, same 100 miles=$15

Giving a generous $5 difference in savings every 100 miles; How many miles will it take to make up the cost difference between a new MY and a 5 year old Prius?

I would say after 1/4 mile... when you realized that the 5-year-old Prius is still at the starting line.

 

[yellowr6]

With the EV6 AWD MSRP without markup is $58k ish. And the ioniq5 AWD MSRP without markup is $56k ish, why would tesla list this standard AWD for anything less than 58!

U get more range (280 vs 240 ish), u get the SC, and almost everything on a tesla is superior than ur legacy auto EV!

If they list it for 55k ish, GL to all other EV. And tesla Demand will go off the roof! U think 1 year is long, I see 1.5-2 yr if it was listed for 55k ish!

I think they listed it just right. Ppl will still order them over any other EV currently. Keep in mind, if u think tesla has a long wait, other dealers having the same issues or even longer. Once u start doing some homework what u getting and also tesla SC, GG!

 

[Msicario]

I would say after 1/4 mile... when you realized that the 5-year-old Prius is still at the starting line.

How many times do you go to the race track? How often do you drive at 140+ mph? If you do drive fast, your charging pit stops are often while the Prius (turtle) passed you up.. can you do L.A to Phoenix in five hours?

 

[goin2drt]

To me (and only me) you are comparing apples to oranges. You are comparing the actual car and prices to one another. As a new EV owner the other cars were not even in the decision process.

Until EVERY other auto manufacturer can build a charging network AND the ability to charge as fast while on a road trip then for us it was Tesla vs ICE. People continue to compare the new competition to Tesla. I don't find that a viable comparison unless purely you want an around town car only. At that point then throw in the Prius, Volt, Bolt, Leaf, i3 etc etc. None of the above cars even compare to any Tesla from my buying decision tree.

 

[yellowr6]

To me (and only me) you are comparing apples to oranges. You are comparing the actual car and prices to one another. As a new EV owner the other cars were not even in the decision process.

Until EVERY other auto manufacturer can build a charging network AND the ability to charge as fast while on a road trip then for us it was Tesla vs ICE. People continue to compare the new competition to Tesla. I don't find that a viable comparison unless purely you want an around town car only. At that point then throw in the Prius, Volt, Bolt, Leaf, i3 etc etc. Now of the above cars even compare to any Tesla from my buying decision tree.

Totally agreed with u.

I had a 2020 LR. My first full EV. I had a first gen plug in Prius. Great boring car to get u from A to B. The LR wasn’t perfect since it was the first gen Y. I sold it for a good profit to upgrade to a 2022 P. Wow, what a improvement!

I tested the ID4 and MachE while waiting for the P. They’re not even close. Still years behind.

A friend of mine was shopping for a EV. My 2 cent. If u want a fun car with the best specs and planning to do some road trips , there’s only one. If u don’t care and want to just commute A-B, just get a used leaf! Or a used bolt or even a used Prius plug in.

Until other legacy catch up with their own charging infrastructure and also cut out all the BS dealers tactic , they don’t stand a chance. Referring to no markup. Sell it at MSRP. What price u see is the price u get. Watch, sooner or later , they will all follow tesla on how to sell cars!

 

[ZenRockGarden]

How many times do you go to the race track? How often do you drive at 140+ mph? If you do drive fast, your charging pit stops are often while the Prius (turtle) passed you up.. can you do L.A to Phoenix in five hours?

I have recently had both my Model Y, and a used Prius (which I was driving while waiting for the Tesla)

Every time I got in the Prius I had the sensation of firing up a reliable but unloved vacuum cleaner - an appliance to be used on a necessary task.

Every time I get in the Tesla I have the sensation of boarding a flying carpet - an effortless magical creation which brings joy to my life.

It's that simple. Sorry you don't get it.

 

[WhiteWi]

Yeap, it almost like your mind think to go and Tesla just effortlessly does it. It is next level of driving sensation.

 

[Gem!ni]

The more I think about it, I've locked in a MYP at $63,990 and I'm not sure this would be worth it even with the 4680 batteries and structural pack. I lose range AND an even lower performance than the MYLR for just a savings of $4K. Add to that other losses such as the Matrix headlights, etc

 

[mangrove79]

How many times do you go to the race track? How often do you drive at 140+ mph? If you do drive fast, your charging pit stops are often while the Prius (turtle) passed you up.. can you do L.A to Phoenix in five hours?

LOL, it was a joke . I don't ever drag race, or race my MY in any fashion, but I do enjoy the acceleration when I need it occasionally. I'm one of those hypermilers that try to get the highest efficiency out of my car (253 wh/mi after 13K miles). And my other car is none other than a Prius!

Did I enjoy driving my Prius? Of course. But after I got my MY, no ICE (or hybrid) car will give me as much joy as driving my Y, not just from a fuel point of view, but driving dynamics, technology, and usability.

 

[yellowr6]

Yup. Same here.

I had owned 3 prius before the Y.

The standard 3rd gen. Love trying to get high 50 mpg. Wasn’t easy living in SF!

Then had the first gen plug In. Charge it here and there. Getting 12 EV range. Baby the shlt out of the 12 mi! End up getting mid 60 mpg.

Now, my wife have the 2nd gen plug in Prius. 25 ev range is more acceptable. We get about 150 mpg now. Charging it daily.

We don’t missed the gas station!

So yea! I totally get the comparison driving a Prius and the Y!

 

[Msicario]

To me (and only me) you are comparing apples to oranges. You are comparing the actual car and prices to one another. As a new EV owner the other cars were not even in the decision process.

Until EVERY other auto manufacturer can build a charging network AND the ability to charge as fast while on a road trip then for us it was Tesla vs ICE. People continue to compare the new competition to Tesla. I don't find that a viable comparison unless purely you want an around town car only. At that point then throw in the Prius, Volt, Bolt, Leaf, i3 etc etc. None of the above cars even compare to any Tesla from my buying decision tree.

I totally understand the overall difference; No doubt Tesla is ahead of everyone else; But it seems things are changing and the goal to achieve a true 400 mile range has come to a stop; Lucid Air and I’m sure others are closing in fast like Mercedes Benz.. ( sad Tesla buyers no longer qualify for the $7500 tax rebate) a great status symbol, of being wealthy

But if you’re one of elite 1% of EV owners in the U.S, good for you that can afford an expensive Tesla and don’t worry about paying rising kWh rates.

I’m content with my Prius because it’s super dependable, practice, I can park anywhere without worries; I have grandkids in other states and can go visit them on a tank full, without having to make stops..

BTW.. I’m not at all envious or hater of Teslas , because I can definitely afford one..
I enjoy having fun conversations with Tesla owners.. no doubt most are highly educated, smart and wealthy. Enjoy

 

[mangrove79]

Yup. Same here.

I had owned 3 prius before the Y.

Mine is just the standard hybrid (non-plugin), but it averages 59 mpg lifetime with about 50/50 highway to local. It's really hard to beat the almost 600-mi range in that car, LOL. But I can't accelerate fast enough on the on-ramp even if my life is depending on it.

 

[Msicario]

Mine is just the standard hybrid (non-plugin), but it averages 59 mpg lifetime with about 50/50 highway to local. It's really hard to beat the almost 600-mi range in that car, LOL. But I can't accelerate fast enough on the on-ramp even if my life is depending on it.

Then you realize that the on-ramp traffic monitor is on

 

[CoryARamirez]

Reading this makes me feel better about living in an apartment. My apartment building offers unlimited free charging 24/7.

Definitely has its perks! We bought a home last year so now we pay the price lol

 

[ThomasD]

Auto delinquency rates are up from last year.

 

[Big Earl]

From Tesla's Viewpoint,
It's a brilliant idea to open Giga Austin with a brand new model "for the masses"...

• New Battery
• Full Castings
• Etc.

With their strategy, Fremont continues to churn out MYLRs to barely satisfy a one year queue with no end in sight. Good for Tesla.

At $50-52k price point, this car would be insane. It's too high and too close in price to the MYLR. They will sell. But I think Tesla missed a bigger opportunity.

Tesla missed a bigger opportunity for what?

$50K-52K would result in significantly lower margins; an even longer, unmanageable waiting list; making traditional auto look even worse, which is bad because Tesla can't succeed in their mission alone; cannibalizing Fremont-built vehicles?

I think Tesla made the right move. They'll feel out the market's reaction and adjust prices accordingly. Some people will buy an EV from another manufacturer, which is great. Other people will opt to upgrade to Long Range, which is also great. One thing is for sure, there will be no shortage of buyers for these vehicles.

 

[CoryARamirez]

With current pricing, we need to be F'd. People are simply paying WAY too much stuff right now, especially new cars. Nobody needs a new car. Let me say that again.. Nobody needs a NEW car. Anybody that truly needs a car to drive, will take anything they can get. And while used cars are also crazy expensive, the reality is there are still millions of used cars in the $20K range. Those vehicles.. especially the ones that avg 30mpg or so.. will do just fine for the next 3-5 years while all this craziness dies down.

I think I read recently the avg price of the new car was $47K. You combine that with taxes & titles and that means people are walking out of dealerships with $50K vehicles and most with probably 72-96 month loan rate terms.. Prices are up big, but salaries have not increased much over the past few years. It's not like people are suddenly making a lot more money. At most the typical American household got a couple rounds of stimulus checks but all of that stuff was now years ago.

Consumers need to get their spending under control. And as much as we EV-owners like to show others how much money we are "saving" on gas right now. The reality is most of us have spent anywhere from $50K to $150K on new EVs + home charging installations to make that switch from ICE to EV. I know my wife and I both purchased two new EVs last year, each totaling almost $50K each + $2,700 to install two separate wall chargers. That's a bit over $100K that we have prepaid upfront to make the switch to a 100% EV home. And while its still a smart bet as we were likely going to purchase new vehicles anyways & the savings will continue to add up over time.. there is simply no way the typical American household is now able to do the same thing. Even if they wanted to, the prices of new cars mean those cars are now $60K vehicles and it would take $120K upfront to do the same switch as we were able to do last year.

TL: DR.. keep driving whatever you already have right now for another 2-3 years lol.. until prices return to reality.

Then your missing out on 3 years of Tesla fun. There is more to opportunity costs than just financial analytics.