American electric carmaker Tesla Motors has confirmed that it has updated pricing across the Model 3 and Model Y lineups, including significant price cuts for both base models. Following the trimming down of prices in base models, the Tesla Model 3 now starts just under $37,000. According to the EV manufacturer’s official website, the Model 3 Standard Range Plus is now available at a price of just $36,990. Previously, the price of the Model 3 Standard Range Plus was $37,990.

On the other hand, price for the Tesla Model 3 Performance (AWD) has been increased. Now, it costs $55,990, $1,000 more than the $54,990 that it used to cost prior to the change in the prices. The price of the Tesla Model 3 Long Range (AWD) has been left untouched at $46,990. It means no change was made in the pricing of the Tesla Model 3 Long Range (AWD). Now, there is a difference of $10,000 in the prices of the Model 3 Standard Range Plus and the Tesla Model 3 Long Range (AWD). But, it is worth-mentioning here that the Tesla Model 3 Long Range (AWD) comes with a larger battery and an extra motor.

Pricing for the Tesla Model Y EVs has also been revised. Most remarkably, the Palo Alto, California-headquartered EV maker has trimmed down the price of the Model Y Standard Range, which now costs $2,000 lower than its previous price. The Tesla Model Y Standard Range’s price has been reduced from $41,990 to $39,990. That is a considerable price reduction for an EV that was introduced just around a month ago. It was officially introduced last month despite Tesla CEO Elon Musk’s previous announcement that that the company would not make that version of the electric SUV because of range concerns.

The Tesla Model Y Long Range (AWD) now costs $49,990, while the Tesla Model Y Performance (AWD) costs $60,990. The Model Y Long Range, thus, is available at the same price, but the Performance version received a $1,000 price increase. Previously, the Tesla Model Y Long Range (AWD) and the Tesla Model Y Performance (AWD) were available at $49,990 and $59,990, respectively.

Over the recent past, Palo Alto, California-based Tesla Motors has updated the Model Y EV to match some of the updates that it made in Model 3. A few weeks ago, the Model Y was spotted with the new center console introduced in the Model 3 2021 refreshed model.