Tesla is offering a ‘Switch and Save’ scheme with the Model Y, which provides a Rs 3 lakh discount on the exchange of any combustion-powered car in India. In addition to the bonus, the Model Y is being offered with a 7-year loan at a Rs 6 lakh down payment with a monthly EMI of Rs 49,001 and an 8.5 percent APR.
- Exchange bonus likely to boost Tesla India’s sales
- Model Y prices range from Rs 57.89 lakh to Rs 67.89 lakh
The Model Y has not been as successful as the brand hoped it would be in India. A Bloomberg report had revealed that initially, Tesla received 600 bookings, a lot of which were eventually cancelled. As per the current sales data on the Vahan portal, Tesla has sold only 263 units of the EV till January 2026. We had also reported that a flat Rs 2 lakh cash discount is being offered in January 2026 on the unsold MY2025 Model Y stock.
That said, the Model Y has garnered a lot of public interest in India majorly because of its futuristic tech and looks. However, its hefty pricetag, which we highlighted in our first-drive review, is one of the major reasons why the EV has seen low sales. Not just in India, but Tesla car sales have declined internationally as well. However, among all the markets where the Model Y is on sale, it is only India that gets such a unique exchange bonus with the EV. Such a benefit is likely to make the Model Y a more value-for-money proposition than before, giving an impetus to its sales.
The Tesla Model Y is offered in India in two variants: Rear Wheel Drive and Long Range Rear Wheel Drive, which are priced at Rs 59.89 lakh and Rs 67.89 lakh, respectively.
All prices are ex-showroom, India.
