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Update (6/12):

Exciting news from Tesla! They have recently announced that all Model 3 and Model Y vehicles are now eligible for a federal tax credit of $7,500. This means that after applying for the credit, the RWD Model 3 can currently be purchased for $32,740, and the AWD Long Range Model 3 is available for $39,740.

It’s important to note that your state may also provide additional incentives in addition to the federal tax credit.

Update (6/12):

Good news! You can now earn credits by taking specific actions with Tesla. If you reserve a Model 3 or Model Y, you’ll receive 1,500 credits. Reserving a Model S or Model X will earn you 2,500 credits.

Tesla owners also have the opportunity to earn credits. By completing referrals, you can earn between 2,000 and 9,000 credits. Additionally, purchasing additional Teslas can earn you between 3,500 and 9,000 credits. This is the first time Tesla has offered referral incentives to buyers and owners since September 2021.

Update, 5/11:

Tesla pricing has been trending upward as of late. The chart below has been updated to reflect the most recent prices. Although prices are still significantly lower than they were prior to last month, it’s possible that they may continue to increase as time goes on.

Update, 5/2:

Tesla adjusts its pricing based on demand and has recently raised the cost of all its models.

Here are some examples of what you can redeem your credits for:

  • Cybertruck raffle: 500 credits
  • Tesla Powerwall T-shirt: 500 credits
  • Tesla sipping glasses: 1,400 credits
  • Tesla Giga Texas Belt Buckle: 1,500 credits
  • Tesla Jacket/Hoodie: 1,500 credits
  • 500 Supercharger miles: 1,500 credits
  • Model 3/Y all-weather liners: 3,500 credits
  • CCS Adapter: 4,000 credits
  • 2,000 Supercharger miles: 4,800 credits
  • Model S/X all-weather liners: 5,000 credits
  • Wall connector: 5,500 credits
  • Acceleration boost: 9,500 credits
  • Enhanced Autopilot: 55,000 credits
  • Full self-driving: 120,000 credits
Model Late 2020/Early 2021 Pricing Mid-2022 Pricing April 2023 Pricing May 2023 Pricing Current Pricing After Tax Credit
Model 3 Rear-Wheel Drive/Standard Range $35,000, in-store only Discontinued Discontinued Discontinued
Model 3 Rear-Wheel Drive/Standard Range+ $37,990 $46,990 $39,990 $40,240 $32,740
Model 3 All-Wheel Drive/Long Range $46,990 $57,990 Was unavailable $47,240 $39,740
Model 3 All-Wheel Drive/Performance $54,990 $62,990 $52,990 $53,240 $45,740
Model Y All-Wheel Drive/Standard Range $41,990 Was unavailable $46,990 $47,490 $39,990
Model Y All-Wheel Drive/Long Range $49,990 $65,990 $49,990 $50,490 $42,990
Model Y All-Wheel Drive/Performance $59,990 $69,990 $53,990 $54,490 $46,990
Model S All-Wheel Drive/Long Range $79,990 $104,990 $84,990 $88,490 Ineligible for credit.
Model S Plaid $119,990 $135,990 $104,990 $108,490 Ineligible for credit.
Model X All-Wheel Drive/Long Range $89,990 $120,990 $94,990 $98,490 Ineligible for credit.
Model X Plaid $119,990 $138,990 $104,990 $108,490 Ineligible for credit.


The chart illustrates the changes in Tesla pricing over the past few years, including the lowest prices during the pandemic, the subsequent increase due to the chip shortage and inflation, and the recent price drop to boost demand as production and competition increase.