How Much Does a Tesla Cost in 2023? Tesla Car Prices Explained | EnergySage

Quick history of Tesla’s models: from Model S to Model Y

Tesla began commercially manufacturing their first electric car, the Roadster, back in 2008. However, it wasn’t until the company purchased its factory in Fremont, California that they started to build the four models we know and love today:

• Tesla Model 3 (compact sedan)
• Tesla Model S (mid-size luxury sedan)
• Tesla Model X (mid-size SUV)
• Tesla Model Y (compact SUV)

First came the Tesla Model S, a mid-size luxury sedan vehicle, back in 2012. And from there, Tesla went on to diversify its option set. Their first SUV option, the Model X, came to market in 2015, followed by their more affordable compact sedan option–the Model 3–three years later. Most recently, Tesla started shipping its first compact SUV, the Model Y, in 2020.

Excitingly, the electric car giant plans to release a new and improved version of its flagship electric car, the Roadster, in 2023. Tesla has promised that this sports convertible will be the quickest car in the world – we’ll have to wait and see!

Tesla model superlatives:

• Most affordable: Tesla Model 3 ($42,990)
• Most expensive: Tesla Model X, Plaid ($119,990)
• Longest range: Tesla Model S (405 miles)
• Shortest range: Tesla Model 3 (272 miles)
• Fastest top speed: Tesla Model S, Plaid (200 miles per hour)
• Slowest top speed: Tesla Model Y, Long Range (135 miles per hour)
• Newest model: Tesla Model Y (2020)
• Oldest model: Tesla Model S (2012)

How much does a Tesla Model 3 cost? The cheapest Tesla car

Tesla’s Model 3 is the cheapest Tesla car available. With the base model retailing for $42,990, this car is Tesla’s first attempt at a mass-market electric car to appeal to automobile shoppers of a wide range of budgets. And it’s working: the Model 3 has quickly become one of the most talked-about and popular electric cars thanks to its unique combination of performance and affordability. In fact, in 2020 the Model 3 was the 16th best selling car in the world – that’s including traditional gasoline-fueled cars! 

The Model 3 comes in three different versions ( Performance, Long Range, and “standard”) that offer driving ranges between 272 and 358 miles. This car can go 0-60 mph in 3.1 seconds.

Tesla Model 3 product line: drivetrain, price, range, and top speed

TESLA MODEL 3 PRODUCTDRIVETRAINBASE PRICE (BEFORE TAX CREDITS)RANGE OF DISTANCE (MILES)TOP SPEED (MPH)

Model 3Rear-Wheel Drive$42,990272140

Model 3 Long Range (not currently available)Dual Motor All-Wheel Drive$55,990358145

Model 3 PerformanceDual Motor All-Wheel Drive$53,990315162

How much does a Tesla Model S cost?

Well known as one of the leading EVs available, the Model S is a popular sports car with top-end ranges and speeds to match. In terms of acceleration, the Model S can go 0-60 mph in as little as 1.99 seconds. Similar to the Model 3, buying a Model S will cost more or less depending on the model you buy and the tax credits available. Model S pricing starts at $94,990, and the company offers two car variations that you can choose from: the Model S, and the Model S Plaid.  The more expensive of the two–the Model S Plaid–has tri-motor all-wheel drive (AWD) and has a top speed of 200 miles per hour.

Tesla Model S product line: drivetrain, price, range and top speed

TESLA MODEL S PRODUCTDRIVETRAINBASE PRICE (BEFORE TAX CREDITS)RANGE OF DISTANCE (MILES)TOP SPEED (MPH)

Model SDual Motor All-Wheel Drive$94,990405149

Model S PlaidTri Motor All-Wheel Drive$114,990396200

How much does a Tesla Model X cost?

For most Tesla fanatics, their primary interest has long been around the company’s Model S sedan. That changed at the end of 2015 when Tesla released its highly anticipated SUV offering, the Model X. Though the Model X is often marketed as an electric SUV, its size more closely resembles a compact crossover like a Subaru Forrester or Toyota Corolla. The Model X is the fastest sport utility vehicle in the automobile industry – the Plaid model can reach 60 mph in a mere 2.5 seconds! 

A new Model X starts at a base price of $109,990 and comes in two versions: Model X and the Model X Plaid.

Tesla Model X product line: drivetrain, price, range and top speed

TESLA MODEL X PRODUCTDRIVETRAINBASE PRICE (BEFORE TAX CREDITS)RANGE OF DISTANCE (MILES)TOP SPEED (MPH)

Model XDual Motor All-Wheel Drive$109,990351149

Model X PlaidTri Motor All-Wheel Drive$119,990333149

How much does a Tesla Model Y cost?

Tesla released their newest electric car model–the Tesla Model Y–back in 2020. According to Elon Musk himself, the car shares about 75 percent of its components with its more affordable sibling, the Model 3. The main difference between the two is that the Tesla Y is a mid-size SUV, rather than a sedan. Even as a larger car, the Model Y can go from 0 to 60 mph in as little as 3.5 seconds. Its extra space also comes at an additional cost: a new Model Y has a base price between $54,990 and $58,990 depending on whether you go with the Model Y Long Range or the Model Y Performance.

Tesla Model Y product line: drivetrain, price, range and top speed

TESLA MODEL Y PRODUCTDRIVETRAINBASE PRICE (BEFORE TAX CREDITS)RANGE OF DISTANCE (MILES)TOP SPEED (MPH)

Model Y Long RangeDual Motor All-Wheel Drive$54,990330135

Model Y PerformanceDual Motor All-Wheel Drive$58,990303155

Prices and information for future Tesla vehicles

In addition to its current offering, Tesla has previewed and hinted at a number of future models available to consumers. While their exact prices and features aren’t known yet, we can give you an idea of what to expect.

Tesla Roadster

Despite releasing the original Roadster as their first vehicle, Tesla hasn’t produced a new version of the Roaster since 2012. They’ve promised that the new Roadster will be their fastest vehicle yet with 0-60 mph acceleration times of 1.9 seconds and a top speed of more than 250 mph. Reservation prices for this vehicle start at $50,000

Tesla Cybertruck

Tesla announced their Cybertruck in 2019. This truck offering from the company has a range of 500 miles and a 0-60 mph acceleration time of 2.9 seconds. The Cybertruck is expected to be available for sale some time in 2023 at the earliest.

Other Tesla car costs to consider

As with any other car purchase, paying for a car involves more than the prices we listed above, or the prices a manufacturer lists online. Additional fees–both ongoing and one-time payments–will increase the overall cost of buying a Tesla. When evaluating a Tesla purchase against other options, consider:

• Taxes and fees: depends on the model car you buy, as well as the sales tax rate in your area.
• Order fee: the nonrefundable fee Tesla charges to place your car order ($250)
• Destination & doc fee: the fee Tesla charges to transport your car from the Tesla factory to your delivery location ($1,400)
• Charging costs: varies based on your driving style, average mileage, the cost of electricity in your area, the car you drive, and more. Importantly, electric cars like Teslas typically offer significant fuel savings over gas-powered vehicles.
• Service & maintenance costs: depends on your area, the car you drive, how often you drive, and more. Fun fact: according to Consumer Reports, EV and plug-in hybrid car drivers pay about half as much on car repairs and maintenance compared to drivers of cars with internal combustion engines.
• Insurance: varies depending on your area, the cost of your car, your driving history, and more. 

It can be hard to truly assess the total costs of driving a Tesla given the variability in some of the factors listed above; fortunately, our EV showroom personalizes your estimated costs based on your geography, how long you plan to own your car, and how many miles you drive each year. You can get your own personalized EV cost assessment here.

How much does it cost to replace a Tesla battery?

In comparison to batteries for combustion engine vehicles, most signs point to electric vehicle batteries lasting a significantly long time. On average, EV batteries can last from 12-15 years in moderate climates. However, if you find yourself in the position of having to pay for a battery replacement, it could be quite expensive. Batteries cost between $10,000-$12,000 not including installation.

EV incentives and tax breaks for Tesla cars

Given how much you can save with EV incentives, it’s important to understand your eligibility for any tax credits prior to purchasing an electric car. The country’s most advantageous EV incentive – the Clean Vehicle Credit – offers a federal tax credit of up to $7,500 on your electric vehicle purchase. Thanks to the Inflation Reduction Act, Tesla vehicles are once again eligible for the federal EV tax credit as long as the vehicle owner meets the income and price requirements.

Your Tesla purchase may be eligible for other state or local incentives depending on where you live. For example, states like California, Maryland and Colorado offer cash incentives or credits for electric car owners. Others offer non-cash incentives like indefinite carpool access and free tolls. Regardless, there’s a good chance that the price tag for your Tesla car will look a lot better once you factor in credits and incentives.

Using EnergySage’s EV showroom, you can explore all of the electric vehicle incentives in your area by car make and model, tax filing status, and household income. Simply click the “Personalize Incentives” button and enter your zip code to get started.

Frequently asked questions about Tesla’s car options

What is the most expensive Tesla?

The most expensive Tesla is the Model X Plaid starting at $119,990. For that price, you do get premium features like tri-motor all-wheel drive (AWD) and a top speed of 200 miles per hour.

What is the cheapest Tesla?

The most affordable Tesla is the Model 3 at $42,990. This is Tesla’s attempt at a true mass-market car that not only luxury car buyers can afford.

How long does a Tesla battery last?

A Tesla car battery is supposed to last for between 300,000 and 500,000 miles before it might need to be replaced.

Is buying a Tesla car worth it?

Of course, buying a Tesla will cost more than most cars upfront; despite the release of the more-affordable Model Y, it’s still regarded as a luxury vehicle and has the price tag to match. When it comes down to it, whether or not you should buy a Tesla depends on your preferences and personal finances. On the plus side, Tesla owners typically experience low maintenance costs and fuel savings relative to comparable luxury vehicles with gas-powered engines. Outside of financial savings, electric cars like Teslas also help reduce pollution, so if environmental stewardship is important to you, an electric car–a Tesla model or otherwise–is the way to go.

With any big purchase, it’s important to do a bit of research and compare your options before making a decision – and EnergySage’s EV showroom is a great place to start! Using our comparison feature, you can easily evaluate multiple cars side-by-side, including all-electric, hybrid, and gasoline models. Browse car options, explore local incentives, and get personalized costs and savings estimates, all in one place, all online.

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