Tesla price drop – up to £8,000 savings on Model 3 and Model Y

March 08, 2023 by

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Tesla has slashed the prices of its Model 3 saloon and Model Y SUV for 2023, with savings of almost £8,000 available on some versions. Read on to find out how much you can save on one of these new electric cars…

Tesla has reduced the price of its Model 3 and Model Y EVs by up to £8,000 depending on which model you go for.

If you have a pending Tesla order placed before these reductions were announced, the cost of your car will reportedly be updated automatically to reflect the sizeable price drop.

Tesla Model Y price drop

The cheapest single-motor rear-wheel-drive Tesla Model Y now costs from £44,990 – that’s around £7,000 less than it previously cost. This makes the popular SUV slightly cheaper than the £45,245 Kia EV6 but a smidge pricier than the £43,150 Hyundai Ioniq 5.

Watch Mat’s Tesla Model Y review video for more information on this high-tech SUV. 

Go for a dual-motor Long Range model and you’ll pay £52,990, saving around £5,000.

The quickest Model Y Performance has also been discounted by a whopping £8,000. You can now pick up one of these rapid SUVs for £59,990. That’s a few thousand pounds less than you’ll pay for the £62,645 Kia EV6 GT.

Tesla Model 3 price drop

Fancy a Tesla Model 3 saloon instead? The entry-level rear-wheel-drive version with a single motor now costs from £42,990, which represents a £5,500 discount.

It’s also a fair bit cheaper than the new BMW i4 eDrive 35. That car starts from £49,995.

See how the BMW i4 compares to the Tesla Model 3 by watching Mat’s detailed head-to-head video below…

Long-range cars with dual electric motors have seen a £6,500 price drop and now set you back £50,990.

Fancy a fast dual-motor Performance model? That’ll set you back £57,990, which is a saving of £3,500. As a result, this fast electric saloon costs more than £11,000 less than a dual-motor BMW i4 M50.

New Tesla Model S and Model X price drop in the USA

Prices of Tesla’s most expensive models have also been reduced in America, with savings of up to $5,000 available depending on which car you go for. That’s around £4,000. That’s on top of the $10,000 (around £8,300) price drop back in March.

A dual-motor Tesla Model S now starts from $84,990 (£68,000), down from $89,990 (£74,910). That’s a saving of $5,000 (around £4,000). For the bonkers 1,020hp Model S Plaid and you can save the same $5,000 (£4,100), with prices now starting at $104,990 (£84,000).

As for the Tesla Model X, that car now starts from $94,990 (£75,900), a saving of $5,000 (£4,000). The Model X Plaid has also seen a $5,000 price reduction, with that car now starting from $104,990 (£84,000). You can’t currently get a Tesla Model S or Model X in the UK, however they are available to pre-order. UK prices are not yet known though.

Compare the latest deals available through carwow or check out detailed reviews on brand-new electric cars and a range of Tesla cars.

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