Tesla has raised prices again! The 2023 one-for-one prices for the latest Model Y/3/S/X + pre-order details for Roadster / Cybertruck (continuously updated)

Being the no.1 electric vehicle brand in the world, car owners have always been interested in news about Tesla’s prices and delivery. Model S and Model 3 are sedans, and Model X and Model Y are medium-sized SUVs. Beyond that, how do Model Y, Model 3, Model S, and Model X differ in performance and prices? What is the one-for-one plan? To help you find the model most suitable for your budget and driving requirements, our Kwiksure experts have put together brief introductions of these four models for you.

Update on July 28th: Tesla has raised prices again! According to data from Customs and Excise, the prices of the 2022 Tesla Model 3 and Model Y will increase from July 29 (Friday). The most eye-popping price increase is for the long-range version of the Tesla Model 3, which will see its after-tax price jump from HKD $411,000 to HKD $449,150 - an 11.29% increase over the current after-tax price.

Tesla prices after increase as of July 9, 2022

Update on July 21: The production date of the Tesla Cybertruck is delayed once again, and Elon Musk said at the Q2 earnings meeting that the Cybertruck is expected to start shipping in mid-2023.

Update on July 4: The Customs and Excise Motor Vehicles First Registration Tax System has added "Enhanced autopilot" for Tesla Model 3 and Tesla Model Y to the list of "Optional Accessories" in the July 1 price list. This accessory is priced at approximately USD $6,000 (about HKD $47,078), and it provides functions such as automated lane change, automated parking, and Smart Summon with the automatic navigation system. However, it is not yet known what functional differences there may be (if any) between the Hong Kong and the US versions.

Tesla Model Y: Price, performance and specifications

The Tesla Model Y is the brand's first electric utility SUV for the mass market, and it can be seen as the affordable version of the Model X. Only the five-seat version is available in Hong Kong for now.

Beginning from the standard version, the Model Y is equipped with a panoramic glass roof, autopilot, active safety functions, etc., and the Hong Kong version has additionally added a "HEPA" high-efficiency filter system, which is sufficient to protect against biological weapons.

As for the charging configuration, Tesla said it will expand the network of the world's fastest "V3 Supercharging" supercharger in Hong Kong. Model Y can be charged for nearly 270 kilometers of cruising distance in 15 minutes. Currently, there are 35 super charging stations throughout the territory, providing a total of 172 superchargers and more than 600 destination chargers. If you need to use a super charging station, you will need to pay based on the amount of charging.

MODEL Y model prices and delivery date

Tesla Model Y one-for-one price before tax:

RWD (Standard Range): From HKD $341,800 (tax not included)

Dual-motors AWD (Long Range): From HKD $413,920 (tax not included)

Dual-Motors AWD (Performance): From HKD $449,460 (tax not included)

Estimated delivery dates for Tesla Model Y:

RWD (Standard Range): Q3 2022

Dual-motors AWD (Long Range): Q4 2022

Dual-motors AWD (Performance): Q4 2022

MODEL Y model specifications comparison

Tesla Model 3: Price, performance and specifications

The Tesla Model 3 is the brand's entry-level sedan that can be regarded as an affordable and lightweight version of the Tesla Model S sedan. It is equipped with AutoPilot automated driving assistance, a 15-inch central touch screen display, and a dual-zone air conditioning system. Its body is narrower and shorter compared with the luxury Model S sedan. The Model 3 can be equipped with a panoramic roof. If you need to use a super charging station, you will need to pay based on the amount of charging.

MODEL 3 model prices and delivery date

Tesla Model 3 one-for-one price before tax:

RWD (Standard Range): From HKD $332,800 (tax not included)

Dual-motors AWD (Long Range): From HKD $389,800 (tax not included)

Dual-Motors AWD (Performance): From HKD $431,800 (tax not included)

Estimated delivery dates for Tesla Model 3:

RWD (Standard Range): Q3 2022

Dual-motors AWD (Long Range): Q4 2022

Dual-motors AWD (Performance): Q4 2022

MODEL 3 model specifications comparison

Tesla Model S: Price, performance and specifications

The Tesla Model S is the brand's flagship sedan, and it’s equipped with multiple advanced technologies and systems, such as AutoPilot automated driving assistance, sophisticated sound insulation, quiet powertrain, 17-inch touchscreen display, etc., and it comes with lifetime Free Supercharge use.

MODEL S model prices

Tesla Model S one-for-one price before tax:

Long Range: HKD $644,990 (tax not included) / HKD $1,166,877 (tax included)

Plaid: HKD $799,990 (tax not included) / HKD $1,526,477 (tax included)

MODEL S model specifications comparison

Tesla Model X: Price, performance and specifications

The Tesla Model X is the brand's luxury seven-seat SUV. It’s equipped with AutoPilot automated driving assistance, a 17-inch touchscreen display, independent rear air conditioning, etc. It is also the only model with falcon-wing doors. The Model X also comes with lifetime Free Supercharge use.

MODEL X prices

Tesla Model X one-for-one price before tax:

HKD $663,990 (tax not included) / HKD $1,127,579 (tax included)

MODEL X model specifications comparison

Tesla Roadster 2 pre-order details

The Tesla Roadster 2, the brand's second-generation electric sports car, is available for pre-order today (April 14, 2022)! Production and delivery are expected to begin in 2023.

Tesla Roadster 2 specifications

Tesla Roadster Price and how to order

The total deposit for the 2nd generation Roadster is HKD $390,000. Before ordering, a deposit of HKD $39,000 must be paid by credit card, and the remaining deposit of HKD $351,000 must be paid by wire transfer within 10 days. The entire pre-order process will not be completed until the wire transfer is confirmed.

Tesla Cybertruck pre-order details

The Tesla Cybertruck has attracted attention since its announcement in 2019. It was originally scheduled to go on sale in 2021, but the release date has been delayed time and again. Recently, Tesla finally announced the pre-order details. The deposit is only HKD $1,000, but only payment by credit card will be accepted. If you change your mind, the owner will get a full refund.

There are three versions of the Cybertruck, including a one-motor, a double-motor, and the latest three-motor versions. The three-motor version has two motors on the rear axle, and it only takes 2.9 seconds to accelerate from 0 to 100 km/h and has a cruising range as long as 800 km. The three versions are priced at approximately HKD $310,000, HKD $390,000 and HKD $550,000 respectively.

What should you pay attention to when buying a used Tesla?

If the above admission fees are too high, you can consider buying a second-hand Tesla, and get a taste of driving an electric car before deciding whether to buy a brand new electric car.

In addition, Tesla also has official certified used cars for sale, with original factory maintenance, and most of them come with Supercharging high-speed charging services. That said, there are two issues to consider when buying a second-hand Tesla. First, every Tesla comes with an 8-year unlimited-mileage battery warranty. However, since battery performance will gradually decline over time, buyers should pay attention to how long the Tesla has been in use, not the number of miles on the odometer. The second issue is that Tesla has standardized on additional maintenance services for used cars - one year or 20,000 km.

How much tax can be saved under the one-for-one scheme of the government?

The one-for-one replacement scheme has been extended to 31 March 2024, and the first registration tax concession for electric private vehicles is capped at HKD $97,500. Gasoline vehicle owners can enjoy tax relief of up to HKD $250,000, provided they switch to electric vehicles and meet the following three requirements.

1. The vehicle is at least six years of age
The old private car must have been first registered in Hong Kong at least 6 years ago at the time of deregistration.

2. The vehicle must have been owned under the same name for 18 consecutive months or more
The "date of registration as a vehicle owner" and the "date of cancellation of registration" shown on the vehicle registration document must be at least 18 months (one and a half years) apart.

3. License fee for at least 10 of the past 12 months had been paid
The license fee had been paid for a minimum of 10 months in the 12-month period prior to cancellation of registration, whether consecutive or not.