Tesla Slashes Model 3 & Model Y Prices, 2022 Chevy Bolt Effect?

Tesla Model Y Rear

Pricing for the entry-level Tesla Model 3 RWD Standard Range Plus trim now starts from $36,990 (INR 26.82 lakh), whereas the Model Y RWD Standard Range now costs $39,990 (INR 29 lakh)

Chevrolet recently revealed the 2022 Bolt and Bolt EUV, with prices starting from $31,995 for the former and $33,995 for the latter. While the Bolt EUV is an all-new model, the 2022 Bolt will become $5,500 cheaper than the current model on sale. It looks like Tesla has taken notice since the American EV manufacturer has now revised prices on the Model 3 and Model Y.

The Model 3 RWD Standard Range Plus variant now starts at $36,990, which means that its price has been decreased by $1,000. On the contrary, The Model 3 Dual Motor AWD Long Range continues to be retailed at $46,990 while the Model 3 Dual Motor AWD Performance gets a $1,000 price hike, and is now being offered at $55,990.

Talking about the Model Y, the entry-level RWD Standard Range variant now starts at $39,990 which is $2,000 less than what it was previously offered for. Just like the Model 3, the Model Y’s Dual Motor AWD Long Range trim remains unchanged at $49,990. On the other hand, the Performance variant now costs $1,000 more, with pricing now starting at $60,990.

Tesla Model Y Front

It should be noted that the Tesla Model 3 is still $2,995 more expensive than the 2022 Chevrolet Bolt. However, the former has a 4 mile (6.4 km) advantage in estimated range over the new Chevy electric car. The new Bolt EUV on the other hand, costs $5,995 lesser than the Tesla Model Y and can also travel approximately 6 miles (10 km) farther.

Tesla offers the Model 3 with three different powertrain options, namely Standard Plus, Long Range and Performance. The range-topping Performance version has an EPA estimated range of 315 miles (507 km) on a single full charge, and has a 0 – 96 kmph sprint time of just 3.1 seconds, with a top speed of 162 mph or 261 kmph.

As mentioned earlier, the Model Y can also be had in three variants – Standard Range, Long Range and Performance. The RWD Standard Range has a claimed range of 244 miles (393 km), while the dual-motor AWD Long Range can go up to 326 miles (525 km) on a single full charge. The range drops down to 303 miles or 488 km in the Performance version, but the said trim can hit 60 mph (96 kmph) in just 3.5 seconds from a standstill.