The Model Y is one of the more notable diminutives on the market. It once dominated the EV market share alongside the Tesla Model 3. Now, the Tesla Model Y faces stiff competition from automakers such as Volkswagen, Hyundai and Ford. The Model Y could score huge sales gains in the first quarter of 2023.
The 2023 Tesla Model Y is positioned for a spectacular sales quarter
The last quarter of 2022 has been difficult to say the least for Tesla. The electric vehicle and energy company suffered huge stock losses only to make a big recovery after two months. Tesla shares have fully recovered from the crash, and the company appears to be in decent shape as it makes price adjustments to compete with rivals.
. Tesla raised the price of the Model Y after previously lowering it just a few weeks ago because the small electric SUV is now officially eligible for the full $7,500. This is great news for Model Y fans and potential buyers because it’s cheaper than it has been in months (potentially years) after accounting for tax credit savings.
Tesla Model Y buyers can potentially pay $47,490 after redeeming the incentive (before taxes, fees, and additional local incentives). That price is much more competitive than its no incentive price (over $54,000). Consider the Model Y’s range, and the small electric SUV is a steal for some drivers at under $48,000.
How long is the 2023 Tesla Model Y eligible for the full tax incentive?
Tesla’s website states that the 2023 Tesla Model Y will be eligible for the electric vehicle tax incentive through March 2023. It’s unclear whether or not Tesla models will be eligible for a partial incentive after March 2023. One thing is clear. Thousands of Tesla Model Y fans will seize this opportunity to get the small electric SUV for themselves before it is no longer eligible for the full tax incentive.
The Model Y’s tax credit eligibility for the first quarter of the year could be the catalyst for a huge increase in sales. A boost in sales couldn’t come at a better time as the company continues to recover from a difficult 2022. Once Tesla fans hear about the steep discount they could get on the popular small electric SUV, the Model Y will be selling like hot cakes. The question is, is it worth getting?
Is the Tesla Model Y worth getting?
Edmunds praises the range, roomy cabin, and quick acceleration of the Tesla Model Y. Many automotive publications classify the Model Y as a luxury SUV because it’s so refined. The Tesla Model Y has approximately 330 miles of estimated range.
It is much higher than the average range of electric vehicles. The base model’s long-range trim can go from 0 to 60 mph in about 4.8 seconds. If Tesla can surpass the Model Y, the Model Y could easily become the most dominant electric SUV of the future. So for under $48,000, the 2023 Tesla Model Y Long Range is worth buying, especially if you can take advantage of local incentives as well.
