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2024 Tesla Model Y pricing: Big $8500 price cuts announced

Australia’s best-selling electric car is now more affordable after price reductions of up to $8500 for the updated 2024 Tesla Model Y electric SUV.

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Key Points

  • 2024 Model Y update sees up to $8500 price reduction
  • Cosmetic changes see it miss out on overseas tech upgrades
  • Deliveries scheduled for June 2024

April 23: 2024 Tesla Model Y prices dropped – again

Jordan Hickey

Prices for the 2024 Tesla Model Y electric SUV have fallen – again.

Tesla Australia has slashed a further $2700 from the Model Y Rear-Wheel Drive and $3000 from the Long Range AWD, while the Performance AWD remains unchanged after its big $8500 cut earlier this month (see earlier update).

Combined, prices for the Model Y Rear-Wheel Drive have fallen $4500 since March 31, while the Long Range AWD is also now down $8500 – matching the price cut applied to the Performance AWD.

The Model Y now starts from $60,900 before on-road costs – its lowest ever price – while the mid-spec Long Range AWD has fallen below $70,000 for the first time.

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It has been a chaotic month for the American electric vehicle brand, which has cut prices globally – including in Europe and China – as it faces increased competition and less demand than usual.

Last week, Tesla cut 10 per cent of its global workforce and announced a safety recall for the Cybertruck after owners reported a loose accelerator pedal cover could cause their vehicle to drive at full speed.

Tesla CEO Elon Musk also denied reports that it had cancelled its US$25,000 (AU$40,000) 'Model 2' project.

ModelPricingChange (vs. early April 2024)
Rear-Wheel Drive$60,900down $2600
Long Range AWD$69,900down $3000
Performance AWD$82,900

April 4: Tesla takes nearly $10K off Model Y pricing

Damion Smy

The updated Model Y RWD is down $1500 to $63,500, with the Model Y Long Range AWD $5500 cheaper at $72,900.

The biggest price reduction is saved for the flagship Model Y Performance AWD, now $82,900 – an $8500 cut – which is expected to impact both new and used electric vehicle sales.

While today's news brings a lower starting price, the revised Australian-spec Model Y misses out on the more substantial changes seen on the latest overseas versions.

Revised styling and new colour choices are part of our market's minor update, with a more significant upgrade similar to those applied to the Australian Model 3 Sedan in September 2023 expected for the Model Y in late 2024.

Due in local homes from April onwards, Australia's updated Model Y brings no mechanical changes, missing out on the faster acceleration and quicker battery charging given to the Chinese-market model last year.

Instead, the minor update brings dark covers as standard for the Model Y’s 19-inch wheels, and three new exterior paint choices – Stealth Grey ($2300 extra), Quicksilver and Ultra Red (both $2600 more) – with
Midnight silver metallic and red multi-coat colours dropped.

There are no interior changes – the revised fabric-like dash seen overseas and the ambient lighting not yet offered in Australia – with the same 15-inch touchscreen where the Model 3 now has a 15.4-inch version.

The Model Y also keeps its steering wheel and, notably, its indicator stalks – an item dropped from the Model 3 with its late 2023 update.

Tesla is Australia’s best-selling electric car brand – and remained so in March 2024 – with the Model 3 the most popular electric vehicle by some margin to the Model S in 2023.

This makes Tesla price changes have a noticeable impact on the overall electric vehicle market, with electric cars suffering lower retained value on the used market.


February: 2024 Model Y pricing and features detailed

The Tesla Model Y has taken Australia by storm, just as it has in Europe. It was the sixth most popular vehicle here in 2023, and the top-selling EV – outselling its sedan relation, the Model 3.

Released in mid 2022 locally – three years after the related Model 3 sedan locally – the Model Y isn’t expected to receive a refresh similar to the new Model 3 sedan until late 2024.

It still provides a more practical interior, some unique selling points (indicator stalks for one), and the availability of a flagship Performance variant which isn’t yet available for the facelifted Model 3.

Price changes for Teslas are more frequent than usual for the new-car market, which can make it tricky to keep track of how much the Model Y costs in Australia.

Here, you’ll find the exact price of every Tesla Model Y variant at the time of publishing, and how that’s changed over the years.

JUMP AHEAD

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2024 Tesla Model Y pricing

February 2024

ModelPrice (before on-road costs)
RWD$65,400
Long Range (AWD)$78,400
Performance (AWD)$92,560 (inc LCT)

Pricing excludes on-road costs, Tesla's $400 order fee and $1400 delivery charge, and any eligible EV incentives – but includes the Luxury Car Tax (LCT) on the Performance variant. Figures are current as of the time of publication.

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Tesla Model Y price history charted

Here's an illustration of how Model Y pricing, which inconsistently fluctuates every few months or so, has changed since orders opened in June 2022.

Tesla Australia started Model Y deliveries from August 2022, but it took until April 2023 to introduce the mid-pack Long Range variant.

As per Tesla style, it makes continuous ‘running changes’ without notice, improves manufacturing processes and vertically integrates its supply chain to cut costs. It claimed to have reduced manufacturing costs of the related Model 3 sedan and Model Y SUV by around 30 per cent between 2018 and 2022.

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2024 Tesla Model Y features

We endeavour to keep this story up-to-date, but Tesla tends to make minor 'running changes' without notice and public disclosure compared to other brands. The features below are correct as at the time of publication.

The base Tesla Model Y rear-wheel drive (RWD) is powered by a single electric motor with a 57.5kWh usable lithium-iron-phosphate (LFP) battery pack (according to EV Database [↗]) delivering up to 455km claimed WLTP driving range.

2024 Tesla Model Y RWD standard features
19-inch ‘Gemini’ aero-covered alloy wheelsFixed tinted panoramic glass roof
Animal hide-free black interior with faux wood panels and artificial suede door materialAcoustic glass (front, side and rear)
15.0-inch touchscreen with over-the-air (OTA) software update capabilityInterior footwell light illumination
Built-in Google Maps with automatic Supercharging stop planning‘Tesla Vision’ camera-only ‘Basic Autopilot’ active safety assistance features
Music and video streaming apps, arcade games, Bluetooth, and voice controlReversing camera with blind-spot view side cameras
Standard Connectivity for up to eight years, Premium Connectivity trial for first 30 daysHeated front and rear seats
Tesla mobile app connectivityHeated steering wheel
Built-in Dashcam and Sentry Mode recording (128GB USB stick included)Electrically adjustable driver and front passenger seat
13-speaker premium audioFull LED headlights with auto high beam
Dual Qi wireless charging padsFull LED tail-lights
USB-C charging portsAuto power folding, dimming, heated wing mirrors
Dual-zone climate control with hidden front air vents, Keep Climate On, camp mode and dog modeElectric tailgate
High-Efficiency Particulate Air (HEPA) cabin filterFold-down rear seat boot toggles
Pedestrian warning ‘Boombox’ external speakerCamera-based automatic wipers
Flush exterior door handles with matte black exterior trim217km/h top speed

The Tesla Model Y Long Range is powered by dual motors for all-wheel drive (AWD), with a 75kWh usable nickel-manganese-cobalt (NMC) battery (according to EV Database [↗]) providing up to 533km claimed WLTP range.

2024 Tesla Model Y Long Range features (in addition to RWD)
Front LED fog lights
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The Tesla Model Y Performance increases the dual-motor outputs and reduces claimed WLTP range to up to 514km.

2024 Tesla Model Y Performance features (in addition to Long Range)
21-inch ‘Überturbine’ alloy wheelsCarbon fibre rear spoiler
Performance Brembo front brakes, red-painted brake callipersTrack mode
Lowered suspensionIncreased top speed to 250km/h
Aluminium alloy pedals

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Colours

Five exterior colours are available across the Tesla Model Y line-up, with red being the priciest.

2024 Tesla Model Y exterior colours
Pearl White Multi-CoatStandard
Solid Black$1500
Midnight Silver Metallic$1500
Deep Blue Metallic$1500
Red Multi-Coat $2400

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Options

  • 20-inch Induction wheels (RWD and Long Range only) – $2400

  • White and black interior – $1500

  • Tesla Mobile Connector trickle charging cable – $550

  • Tesla Gen 3 11kW AC Wall Connector – $750 (excludes installation fees)

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  • Premium Connectivity – $9.99 per month

Premium Connectivity subscription adds
Satellite-view maps with live traffic linesKaraoke*
Video streaming services*Internet browser*
Music streaming services*Live camera monitoring via mobile app
*Features can still be used via connected Wi-Fi hotspot without subscription
  • Enhanced Autopilot – $5100

Enhanced Autopilot adds
Automatic lane change assistSummon (move vehicle forwards/backwards via mobile app)
Automatic parkingSmart Summon (move vehicle to user via mobile app)
Navigate on Autopilot
Note: Software package can be added during ownership via mobile app
  • ‘Full Self-Driving’ Capability – $10,100

‘Full Self-Driving’ Capability adds
Enhanced Autopilot featuresSupposed ‘promise’ of Level 2 autonomous driving driver assist function in the future
Traffic light and stop sign control (when adaptive cruise is enabled)
Note: Software package can be added during ownership via mobile app

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Powertrains, charging, and driving range

The 2024 Tesla Model Y is differentiated by standard range single-motor and long range dual-motor configurations.

RWDLong RangePerformance
Battery size (usable)57.5kWh*75kWh*75kWh*
Battery cathode typeLFPNMCNMC
Claimed driving range (WLTP)455km533km514km
Claimed energy consumption (WLTP)12.6kWh/100km*14.1kWh/100km*14.6kWh/100km*
Drive typeRWDAWDAWD
Max AC / DC charging speed11kW / 170kW11kW / 250kW11kW / 250kW
Recommended charging limit100%90%90%
*Figures according to EV Database, since Tesla doesn’t disclose battery and powertrain specs.

The base Model Y RWD is powered by a single rear-mounted electric motor that can accelerate the electric sedan from 0-100km/h in a claimed 6.9 seconds.

Tesla doesn’t provide power figures, but according to official filings to the Australian Government’s road vehicle regulator and EV Database [↗], the RWD outputs 220kW of power output and 420Nm of torque.

Meanwhile, the Long Range has two electric motors for all-wheel drive and a claimed 0-100km/h time in 5.0 seconds. EV Database [↗] suggests it produces 378kW and 493Nm.

The flagship Performance increases its dual-motor tune to accelerate from 0-100km/h in a claimed 3.7 seconds – but this isn’t as realistic since Tesla subtracts a one-foot rollout. EV Database [↗] states it makes 393kW and 660Nm.

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Safety

The Tesla Model Y has received the full five-star safety rating by the Australasian New Car Assessment Program (ANCAP) [↗] under the 2022 testing criteria.

According to the Model Y owner’s manual [↗], there are six airbags, but it lacks a front-centre airbag. Yet, it still achieved strong individual criteria scores by ANCAP.

The Tesla electric SUV has a Cabin Overheat Protection feature, which automatically turns on the climate control to try to keep the interior cool under a set temperature when parked. It also features ‘Keep Climate On’, camp and dog modes.

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2022 Tesla Model Y ANCAP testing criteria

The Model Y’s safety assistance technologies are powered by all-round cameras only, called ‘Tesla Vision’.

2024 Tesla Model Y Basic Autopilot standard active safety features
Front auto emergency braking (AEB) with vehicle/pedestrian/cyclist/junction detectionLane-keep assist
Rear AEBBlind-spot monitoring with blind-spot view cameras
Adaptive cruise control with lane-centring assistReversing camera

About those ultrasonic sensors...

According to Tesla [↗], it is phasing out ultrasonic parking sensors globally in favour of camera-only based systems.

However, at the time of publication, Australian-bound Model Y examples from the Shanghai factory appear to still be delivered with physical sensors, with Tesla not specifying an end date.

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  • Enhanced Autopilot – $5100

Enhanced Autopilot adds
Automatic lane change assistSummon (move vehicle forwards/backwards via mobile app)
Automatic parkingSmart Summon (move vehicle to user via mobile app)
Navigate on Autopilot
Note: Software package can be added during ownership via mobile app
  • ‘Full Self-Driving’ Capability – $10,100

‘Full Self-Driving’ Capability adds
Enhanced Autopilot featuresSupposed ‘promise’ of Level 2 autonomous driving driver assist function in the future
Traffic light and stop sign control (when adaptive cruise is enabled)
Note: Software package can be added during ownership via mobile app

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Dimensions

The 2024 Tesla Model Y is classed as a medium SUV and is only sold as a five-seater in Australia.

RWDLong RangePerformance
Length x width x height4751 x 2129 x 1624mm
Wheelbase2890mm
Ground clearance172mm157mm
Boot / frunk854 / 117-litres*
Weight1909kg1979kg1997kg
*Tesla measures boot space up to the roof, instead of the industry-standard VDA measurement up to the window line. Boot volume includes underfloor storage.

It uses the company’s second-generation ground-up EV platform, which is shared with the Model 3 electric sedan.

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The Model Y has a 1600kg braked or 750kg unbraked maximum towing capacity.

The company offers a tow package accessory for $1970, which includes a steel tow bar with a maximum 72kg download weight. A trailer harness and tow mode software is also included.

Meanwhile, Tesla also sells a roof rack priced at $770 and is capable of carrying a of 74kg load.

The Model Y RWD has a maximum payload of 539kg, Long Range at 640kg, and Performance at 637kg.

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Warranty and servicing

The 2024 Tesla Model Y is covered by a four-year/80,000km vehicle warranty – which is shorter than the industry standard.

The battery warranty differs depending on the variant. The base RWD’s battery pack is backed for eight-years/160,000km, while the Long Range battery goes for up to eight-years/192,000km.

Both promise the pack won’t degrade by more than 30 per cent within the battery warranty period.

The touchscreen and media control unit are covered by a separate two-year/40,000 km warranty.

Tesla uses a condition-based servicing scheme, instead of traditional scheduled logbook servicing.

This means vehicle's sensors detect when specific parts need maintenance based on usage and time, and notifies the owner via the touchscreen or mobile app to schedule a checkup. Tesla also recommends a range of routine maintenance tasks, which are listed here [↗].

Roadside assistance is included during the vehicle warranty.

Standard Connectivity for the touchscreen and mobile app is included for the first eight years.

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Availability

The 2024 Tesla Model Y is available now in Australia.

Orders must be via the Tesla website since it uses an online-only, fixed-pricing purchasing model.

The Model Y directly competes with various electric SUVs, such as the Volvo XC40 Recharge, Hyundai Ioniq 5, Kia EV6, Ford Mustang Mach-E, BMW iX1 and Mercedes-Benz EQB.

It’s also priced in line with the Tesla Model 3, Polestar 2, Renault Megane E-Tech, Peugeot E-2008 and Kia Niro EV.

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Journalist
Damion Smy
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