Tesla Model 3 price goes down, making the top-selling electric vehicle (EV) much cheaper.

On the other hand, the Model Y just got more expensive. But how about the Model S and X EVs?

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SAN FRANCISCO, CALIFORNIA - JANUARY 24: Tesla CEO Elon Musk leaves the Phillip Burton Federal Building on January 24, 2023 in San Francisco, California.

Tesla Model 3 Price Drops This 2023

The giant EV maker of billionaire Elon Musk adjusted the pricing of its all-electric cars, including the Tesla Model 3 and the Model Y.

For the Model 3 sedan, the giant automaker dropped its price tag by about $500, as per a recent report by Inside EVs.

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A Tesla Model 3 car is displayed during the Tesla China-made Model 3 Delivery Ceremony in Shanghai.

It is worth noting that the Rear-Wheel Drive variant of the Model 3 EV used to sell for only nearly $44,000. But this time, it now only starts at $43,490.

Meanwhile, the pricing of the Performance variant remains unchanged to the tune of $53,990.

How About Tesla Model S and Model X?

Electrek notes in its report that the recent price adjustments of Tesla only apply to the Model Y and Model 3.

Given that, the pricing details of its other EV offerings, such as the Model X and the Model S remain the same.

Inside EVs reports that the Long Range of the Model S sedan still retails for $94,990, whereas the performance Plaid model starts at $114,990.

The Tesla Model X also keeps its pricing. The Performance option still sells for $119,990. The All-Wheel Drive Long Range retained its $109,990 price tag.

Read Also: Tesla Price Drops Happen in US, Europe; Up to $20,000 Savings? Here Are Other Details

Tesla Model Y Increases Price

On the other hand, the Musk-owned EV maker decided to make the Model Y a bit more expensive.

The price increase for the Model Y comes shortly after the update in the tax credit rule in the United States, giving its all-electric SUV roughly a two percent increase.

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This file photo shows the Tesla logo is seen outside of their showroom in Washington, DC, on August 8, 2018. - Tesla shares surged on Tuesday October 23, 2018, after a high-profile stock short-seller shifted gears to say the electric car maker is "destroying the competition."

The Tesla Model Y Performance model gets around a $1,000 price hike from its previous pricing of $56,990. It now starts at $57,990.

The hike extends to the All-Wheel Drive Long Range, which used to sell for only $53,490. It got a higher $1,500 increase, bringing up its retail cost to $54,990.

Tesla now says that all its new Model 3 and Model Y EVs qualify for the new federal tax credit, which goes as high as $7,500.

The giant automaker announced that the "new Model 3 and Model Y vehicles qualify for a federal tax credit for eligible buyers."

However, it is worth mentioning that the prices above excluded Destination fees and Order fees, which cost roughly $1,650.

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