Official: Tesla Model Y Is Sold Out Until April

Feb. 18, 2023 11:03 AM ET by Jay Traugott Electric Vehicles / 2 Comments

Missed out? You'll have to wait until April at the earliest.

Tesla has completely sold out of the Model Y for the first business quarter of this year in the US, according to Electrek.

The American manufacturer is all out of build slots, and regular production will not begin until April. The EV automaker has also updated its website to state that the estimated delivery date for the popular EV crossover will be between April and June this year.

To compare, the estimated delivery time for the Model 3 and Model S sedans is between February and March. The Model Y's sales shouldn't come as a surprise. Early last month, Tesla slashed the price of the Model Y by $13,000, from $65,990 to $52,990. Tesla has since increased the price by $1,500.

Tesla

Tesla's initial price decrease dramatically increased Model Y demand but also sparked an EV price war. Ford quickly responded with a Mustang Mach-E price drop of its own. Other automakers like Volkswagen and GM have refused to do the same.

Those who missed out on buying a Model Y can still order a new Model 3. Tesla now estimates a Model 3 delivery time between February and March, so it's almost immediate. The carmaker also reduced the Model 3's price by $500 earlier this month, which now starts at $42,990.

The significant Model Y price cut is not the only reason why demand has soared.

Tesla

The US government recently updated the classification rules for electric vehicles subject to price caps in the Inflation Reduction Act's (IRA) $7,500 tax credit, which made more EVs eligible. Both factors have put the Model Y within greater financial reach for more Americans. It's as simple as that.

Tesla builds the Model Y at two US Gigafactories in California and Texas. Knowing demand is increasing, CEO Elon Musk had the Shanghai Gigafactory boss and his top management come to Texas earlier this year to find ways to speed up production.

Shanghai has had enormous success churning out the Model 3, and Y and Musk want to replicate that process globally.