What is the Cheapest TESLA ? [Updated Prices and Model Break down]

Since launching its first production vehicle in 2008, Tesla has swept the automobile industry off its feet. An increasing number of prospective Tesla customers are considering making a purchase as electric cars (EVs) continue to gain popularity. Many prospective buyers initially inquire about the price of a Tesla because the company currently offers a variety of models in the car, SUV, and future truck categories.

The Model S, Model 3, Model X, and Model Y are among the vehicles in Tesla’s lineup. Prices vary depending on the model, with luxury cars and more reasonably priced options available. The different setups, buying options, and variants for Tesla ownership increase the issue of cost.

This article will break down latest pricing details across Tesla’s current and upcoming models to help buyers understand the most up-to-date cost factors. We’ll cover everything you need to budget for a Tesla accurately, from tax incentives to ownership costs beyond the initial purchase price.

A Quick History of Tesla’s Models: From Roadster to Cybertruck

Since the 2008 launch of their first vehicle, the high-performance electric Roadster sports car, Tesla has gone a long way. With this entry-level model, Tesla gained notoriety and launched their ambitious plan to produce more useful and reasonably priced EVs.

The revolutionary Model S luxury electric sedan, which introduced in 2012, was Tesla’s first mass-produced automobile. The Model S’s revolutionary 370-mile range on a single charge and luxurious cabin were well-received. The 7-passenger Model X premium SUV, which was introduced by Tesla in 2015, continues to be the fastest SUV ever made.

But in 2017, when the reasonably priced Model 3 was introduced, Tesla experienced its most significant moment. With a starting price of less than $50,000, the Model 3 fulfills Tesla’s ambition to make EVs affordable for the general public as its first mass-market electric vehicle. Plug-in electric cars gained popularity rapidly, and this led to a faster uptake of EVs.

In 2020, Tesla introduced the Model Y, a tiny crossover SUV, to complete their S3XY lineup. With a starting price of approximately $65,000, the Model Y expands Tesla’s product line into the well-liked CUV market by sharing approximately 75% of its components with the Model 3.

Going forward, Tesla intends to focus on the roadster and pickup truck markets. Better performance and utility are promised by the much awaited Cybertruck, which starts at less than $50,000. However, Tesla hopes to deliver incredible speed records for about $200,000 with its upcoming supercar, the Roadster.

“Prices of upcoming Tesla models” on the webpage. Here are the prices:

CyberTruck:

Base price: $39,900
Max price: $69,900+

Roadster:

Base price: $200,000
Max price: $250,000

Model 2:

Base price: $25,000
Based on the most recent data that Tesla has supplied, these are the anticipated pricing. Given that Tesla is prone to manufacturing delays and pricing fluctuations, it is advised to proceed cautiously when considering them.

Breaking Down the Costs of Each Tesla Model

When considering this question “How much is a Tesla?“, there are several models and configurations to analyze across their catalog. Here is an at-a-glance view of current pricing across Tesla’s full lineup:

Bold Prices indicate the current lowest priced Model 3 that Tesla offers for sale. With its reasonable acceleration and range, the Model 3 raises the bar for reasonably priced, uncompromising electric cars.

In the meantime, the Model S, Model X, and Model Y high-performance trims cost more than $120,000. However, these vehicles give exceptional power with acceleration speeds comparable to exotic supercars in exchange for their high costs.

Tesla offers a wide range of electric automobiles to suit every buyer’s demands and budget, from everyday commuting to crazy straight-line performance.

What is the Cheapest Tesla You Can Buy in 2023?

As the above table demonstrates, the Tesla Model 3, which has a starting MSRP of $43,990, is now the most economical option to purchase a new Tesla. The lithium-ion battery in this base Model 3 has a range of 267 miles between charges. It takes 5.8 seconds to accelerate from 0 to 60 mph.

A robust 15-inch central touchscreen, an immersive sound system, WiFi and LTE connectivity, voice commands, navigation, and a number of basic safety features are all well included inside the standard Model 3. Additionally, buyers can enable internet browsing, music streaming, and video streaming in-cars by unlocking premium connectivity.

Overall, the Model 3 delivers an uncompromised electric vehicle experience mixing strong performance, high-tech features, and Tesla’s cutting-edge software in their cheapest package.

By leveraging advancements from the earlier Model S and X, Tesla managed to bring surprisingly advanced EV technology to their most affordable model yet. The company also streamlined manufacturing and avoided traditional dealer distribution models to lower costs drastically compared to competitors in the luxury EV space.

While cheaper Teslas may arrive in the future, like the upcoming mass-market targeted Cybertruck, buyers looking get into a Tesla now will find the Model 3 provides maximum value at the lowest buy-in cost. Those focused purely on price have their clear pick.

How Much Does a Tesla Model S Cost?

As Tesla’s first volume production car, the Model S set the standard for long-range, high-performance electric vehicles. Today in its second generation, the Model S continues to deliver exceptional EV driving across two variants:

Long Range

• $104,990 Starting MSRP
• 405 Miles Range
• 3.1 Seconds 0-60 mph
• Top Speed of 155 mph

Plaid

• $135,990 Starting MSRP
• 396 Miles Range
• 1.99 Seconds 0-60 mph
• Top Speed of 200 mph

The Model S Long Range focuses more on maximum driving distance with its 405 mile range, while still enabling a brisk 3.1 second 0-60 time. Meanwhile the cutting-edge Model S Plaid trim pushes acceleration into supercar territory with gearbox-shattering times as low as 1.99 seconds thanks to its tri-motor powertrain.

The luxurious inside of Tesla is standard on both Model S models and includes a 17-inch center touchscreen, 22 speakers for music, tri-zone temperature control, 12-way electrically adjustable front seats, and much more. For automated driving assistance and hands-free functioning, additional features like autopilot and FSD (Full Self-Driving) computer vision functionality are available.

The Model S is an expensive car, costing between $105k and $139k when fully equipped. It is a big electric executive sedan. However, the larger Model S, with its unmatched range and acceleration standards, continues to be the gold standard for purchasers wanting no-compromise EV performance and technology.

How Much is the Tesla Model X?

As Tesla’s first SUV model, the Model X innovates with unique falcon wing doors, seating for up to 7 adults, copious cargo room, and unrivaled performance. Currently the Model X is offered in three configurations:

6 Seat

• $120,990 Starting MSRP
• 333 Mile Range
• 3.8 Second 0-60 mph
• Top Speed of 155 mph

7 Seat

• $126,490 Starting MSRP
• 368 Mile Range
• 3.5 Second 0-60 mph
• Top Speed of 155 mph

Plaid

• $138,990 Starting MSRP
• 340 Mile Range
• 2.5 Second 0-60 mph
• Top Speed of 163 mph

The 6 seat and 7 seat variants focus on passenger and cargo capacity thanks to their spacious cabin design. While the Model X Plaid turns up the performance dial to become the quickest SUV in production, hitting 60 mph in a blistering 2.5 seconds.

All Model X configurations feature three rows of flexible seating, an expansive 17-inch center touchscreen, and generous standard equipment. Enhanced Autopilot is standard as well, while the $15,000 Full Self Driving option enables advanced autonomous capability.

With its cutting-edge technology, performance, and utility, the Model X justifies its $120,000+ pricing. Buyers wanting an eco-friendly SUV that doesn’t compromise get their pick of premium features across efficient 6, 7, and high-performance seating options.

Tesla Model Y Prices and Cost Considerations

As Tesla’s newest model, the Model Y crossover SUV shares approximately 75% of its components with the popular Model 3 sedan. This strategy allowed Tesla to extend their catalog into the hotly contested compact luxury CUV segment at attractive pricing:

All-Wheel Drive

• $65,990 Starting MSRP
• 330 Mile Range
• 4.8 Second 0-60 mph

Performance

• $69,990 Starting MSRP
• 303 Mile Range
• 3.5 Second 0-60 mph

On paper, the Model Y offers similar performance and range to the Model 3 due to their extensive parts sharing. However, the Model Y does command a higher starting price in part thanks to its versatile hatchback design and elevated riding height.

With seating for up to 5 adults including 2 children and 66 cubic feet of storage, the Model Y has more freight and passenger room than the Model 3. With the same 15-inch center touchscreen, premium audio, in-car entertainment, and standard Autopilot, the Model Y’s interior is identical to that of the Model 3.

For customers who require greater flexibility, the Model Y’s higher price point is justified given its greater usefulness and capability when compared to the Model 3. Safety features like Sentry Mode and enhanced crash protection will also be appreciated by families. In the end, the Model Y opens up Tesla ownership to a larger group of people.

Costs of Upcoming Tesla Models – Cybertruck and Roadster

Beyond their current 4-vehicle lineup, Tesla has two highly anticipated models in the pipeline that will further expand the company’s market segments – the CyberTruck and next-generation Roadster.

Tesla Cybertruck

As Tesla’s first pickup truck model, the futuristic Cybertruck promises to shake up the truck world just as the Model 3 did for affordable EVs. Tesla is targeting a starting price around $50,000 for the entry single motor Cybertruck. Specs are equally impressive:

• $50,000 Projected Starting MSRP
• 300+ Mile Range
• 6.5 Second 0-60 mph
• 14,000+ Lbs Towing Capacity

For all-wheel drive dual and tri-motor configurations, Tesla estimates pricing up to $70,000 for their maxed out Cybertrucks.

Reservations for the Cybertruck are open now with a modest $100 deposit, although volume production is not expected until 2023 at the earliest.

Next-Generation Tesla Roadster

At the opposite end of affordability, Tesla is also working on a successor to their first vehicle, the Roadster sports car. As a no-compromise “halo car”, Tesla is aiming for performance benchmarks like:

• $200,000+ Target Base Price
• 620 Mile Range
• 1.1 Second 0-60 mph
• 250+ mph Top Speed

This next-gen Roadster promises acceleration and top speeds never before witnessed in a production EV. Needless to say, it will stretch the limits of electric powertrain technology.

With prototypes testing now, Tesla anticipates Roadster production by 2023 as well. Refundable deposits start at $50,000 for those eyeing this ambitious EV supercar.

Other Tesla Ownership Costs to Factor In

While the upfront purchase price is certainly critical, there are other variable Tesla ownership costs that buyers should factor into their budgets as well:

Charging Costs

• Home Charging: estimates $700 per year (varies by utility rates)
• Supercharger Rates: approx. $0.28 per kWh (costs vary by location)
• Public Charging Station Rates: average $0.33 per kWh

Insurance Costs

• Average annual premiums around $1,900 for Model 3 and Model Y
• Higher premiums around $3,000 per year for Model S and Model X

Maintenance and Repair Costs

• Superior EV drivetrain reliability means less maintenance
• Brakes: Tesla’s regenerative braking preserves pads and rotors
• Annual inspections recommended: $150 per visit estimated
• Out of warranty repairs can be costly if issues arise

Resale Value

• Tesla’s projected to retain residual value better than ICE cars
• Estimated over 50% resale value after 50,000 miles
• Reduced long term depreciation better positions total ownership cost

Factoring together purchase price, financing terms, insurance rates, charging expenses, maintenance savings, and resale value paints a complete picture of what owning a Tesla entails from a cost perspective.

While the initial vehicle pricing spans from affordable to luxury levels, Teslas offer advantages in operational costs that offset some added upfront investment. Considering total lifecycle ownership costs is key for buyers making an informed decision.

EV Incentives and Tax Credits When Buying a Tesla

To further improve affordability, there are federal and state level incentives and tax credits available for eligible EV purchases:

Federal Tax Credit

• Up to $7,500 tax credit offered for new EV purchases
• Phases out once an automaker sells over 200,000 EVs
• Tesla buyers no longer qualify since Tesla hit the 200k limit

State Incentives

• States like California offer rebates up to $2,000 for EV buyers
• Other states provide tax exemptions, special rates for registration/licensing etc.
• Research state and utility incentives available locally with potential savings

Sales Tax Exemption

• Some states offer full or partial sales tax exemptions for EVs
• 7 states currently exempt EVs from all sales tax which equates to thousands in savings

While the federal tax credit no longer applies to Tesla vehicles, state level programs provide rebates, tax reductions, special electricity rates, and other buyer incentives in many areas. Stacked savings from state EV policies can add up to make Tesla ownership more accessible.

Buyers interested in pre-owned Tesla vehicles can also take advantage of incentives not tapped by the original owner to effectively discount their used Tesla purchase price. Savvy buyers explore every option to maximize total discounts and rebates.

Tesla prices at a Glance : 

This table gives you an idea of the base price, max price, and eligibility for the tax credit for each Tesla model.

Do Tesla vehicles actually save money on gas ?

This table provides estimates of the yearly gas savings for each Tesla model compared to conventional gas-powered cars.

Conclusion

All of Tesla’s models, from the most economical Model 3 to the upcoming ultra-high-end next-generation Roadster, are available for a variety of price points. Although Tesla’s are still more expensive up front than gas-powered vehicles, they are becoming a more attractive option due to rising savings and TCO prioritization.

Without a question, the rear-wheel drive Tesla Model 3 ($43,990) is the most affordable Tesla model available in 2023 for buyers who are only concerned with the lowest buy-in.

For just an additional $10–20,000, however, a variety of models in the Model S, Model X, and Model Y lineups enable upgrading to a longer range, better acceleration, or greater passenger room. To discover the perfect fit, potential owners should compare price to important factors including performance, technological features, and practicality.

As production ramps up, Tesla should be able to reduce costs on its current models gradually thanks to growing scale, better batteries, and improved manufacturing. Not to mention price reductions when new models like the Roadster and Cybertruck are on sale.

Therefore, even though the precise cost of a Tesla varies, the trend toward more reasonably priced and valuable EVs is still steady. We hope that this breakdown of costs helps purchasers better understand how much to pay for when they purchase these innovative electric vehicles. Return often to get the most recent price updates on Tesla’s industry-leading lineup of cars, SUVs, and upcoming vehicles!