Tesla is raising Model Y prices in the U.S. for the first time in two years

Prices on two mid-tier variants climbed by $1,000 each, with the Model Y Premium rear-wheel drive now listed at $45,990 and the Premium all-wheel drive at $49,990, per Tesla's website. An additional $500 was tacked onto the Model Y Performance all-wheel drive, pushing its sticker to $57,990. Entry-level shoppers saw no change; the base rear-wheel drive and base all-wheel drive configurations held at $39,990 and $41,990, respectively.

Tesla did not provide a reason for the increases, according to CNBC.

Prior to Saturday's announcement, the most recent Model Y price hike had come in 2024, when every variant in the lineup was bumped up by $1,000. Before that, the company had spent roughly two years cutting prices on the model. Going back further, Electrek notes that an April 2024 reduction shaved as much as $2,000 off certain Model Y configurations, and that reductions stretching back to early 2023 had cumulatively lowered the vehicle's price by up to $13,000.

The price increases affect only the higher-trim configurations. According to Investor's Business Daily, Tesla did not adjust the lower-end variants that were introduced last year.

The move comes after Tesla ended production of the Model S and Model X $TWTR at its Fremont, California factory, leaving the Model Y Premium trims as its highest-end vehicle offerings. Tesla missed Wall Street delivery expectations in the first quarter of 2026, shipping 358,023 vehicles against production of 408,386, with the Model 3 and Model Y accounting for 341,893 of those deliveries.

CNBC reported that back in August 2025, the top-tier Cybertruck pickup saw its U.S. price jump by $15,000.