Tesla Sells Out of Its Popular Model Y SUV After Price Cuts

Tesla has run out of Model Y build slots until April.

Tesla Model Y
Demand for Tesla Model Y surged after a rare price drop in January. Shen Chunchen/VCG via Getty Images

Tesla (TSLA) has sold out of its Model Y electric SUV for this quarter in the U.S., meaning buyers who place an order now need to wait at least six weeks to receive their cars. As automakers emerge from a two-year supply chain constraints that hampered production during the pandemic, it’s unusual for a car to have such a long wait time.

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The Elon Musk-led carmaker has completely run out of production capacity for Model Y until April, according to elektrek, an EV news site, on Feb. 15. The expected delivery date for Model Y in the U.S. is between April and June, Tesla’s website shows.

In January, Tesla reduced the prices of Model Y by as much as 20 percent in a bid to boost slowing sales. With the $7,500 federal tax credit for which Model Y previously didn’t qualify, the car was suddenly 30 percent cheaper for most U.S. buyers. Demand then soared, causing Tesla to add  $1,500 back to Model Y’s price.

As of today (Feb. 16), there are only 48 Model Y in Tesla’s U.S. inventory, according to tesladata.mattjung.net, an independent site tracking Tesla inventory using data from Tesla’s website and other sources. Before the price cuts, Tesla had more than 1,000 Model Y in inventory.

However, despite similar price cuts, Tesla Model 3, its entry-level electric sedan, is still available in the U.S. with an estimated delivery timeline between February and March, according to the Tesla website.

In the most recent quarter ended December, Tesla delivered 405,278 electric vehicles globally. More than 95 percent were Model Y and Model 3, Tesla’s two mass-market offerings.

Tesla Sells Out of Its Popular Model Y SUV After Price Cuts