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Australia's best electric car bargain? 2023 Tesla Model Y price and specs reveal how much you'll pay, and how long you'll wait, for the new Hyundai Ioniq 5 and Kia EV6 competitor

First deliveries of the Tesla Model Y are expected from August this year.

Tesla Australia has revealed pricing for its hotly-anticipated Model Y all-electric SUV that competes directly against the sell-out Hyundai Ioniq 5 and Kia EV6.

Kicking off from $68,900 before on-road costs, the base Model Y rear-wheel drive (RWD) is positioned $5000 north of the entry-level Model 3 sedan ($63,900).

The top-spec Model Y Performance AWD also incurs the same $5000 penalty over the equivalent Model 3, priced at $93,900.

No mid-tier Long Range AWD variant of the Model Y is available, unlike the Model 3 that wears a $76,200 pricetag.

Tesla also charges a $1375 delivery fee and $350 order fee on all cars purchased, while local stamp duty, registration costs and – in the case of the Model Y Performance – luxury car tax also apply.

This makes the entry-level Model Y more affordable than the Hyundai Ioniq 5 (from $71,900), but slightly more expensive than the Kia EV6 (from $67,990).

Standard equipment on the Model Y includes a 62.3kWh battery that is good for a WLTP-tested driving range of 455km.

With drive sent to the rear wheels, the base Model Y will also accelerate from 0-100km/h in 6.9 seconds, while topping out at 217km/h.

Wheels fitted are 19 inches as standard, while buyers are also treated to a black vegan-leather interior, glass roof, power adjustable and heated front seats, heated steering wheel, fold-flat second-row seats, and powered tailgate on the inside.

A white vegan leather interior is also available as an option.

Handling multimedia duties is a 15-inch touchscreen multimedia system with satellite navigation, wireless smartphone charger and 13-speaker sound system.

With storage in both the boot and front trunk, the Model Y boasts up to 2158 litres of storage volume.

For safety, the Model Y is fitted as standard with a basic version of Tesla’s ‘Autopilot’ system that enables adaptive cruise control, autonomous emergency braking, blind-spot monitoring and a surround-view camera, while ‘Full Self-Driving Capability’ can be optioned for $10,100 that bundles automatic parking, the brand’s summon feature, automatic lane changing, and traffic sign and stop sign control.

Stepping up to the Performance variant extends the driving range to 514km, cuts the 0-100km/h time to 3.7s and ups the top speed to 250km/h thanks to a larger 82.8kWh battery.

The wheels also increase in size to 21 inches, while lower suspension, aluminium pedals and performance brakes are also added as standard.

Local power and torque figures are yet to be revealed for the Model Y, but if it follows the Model 3, the base car will punch out 190kW/375Nm while the performance should be good for 353kW/639Nm.

The Model Y RWD has an expected delivery windows between August and November this year, while the Performance is expected to arrive between November 2022 and February 2023.

2023 Tesla Model Y pricing before on-road costs

VariantTransmissionCost
RWDAutomatic$68,900
Performance AWDAutomatic$93,900