Tesla Unveils Refreshed Model Y with Updated Features
Tesla has launched an upgraded version of the Model Y in the US and Europe, introducing several enhancements to its flagship electric SUV.
Exterior and Interior
The "new Model Y" features a redesigned exterior with Cybercab-inspired light bars and a more angular design language. The interior has been updated with improved suspension tuning and other enhancements.
Pricing and Availability
The all-wheel-drive Launch Series Model Y is currently the only trim available. It starts at $59,990 before incentives and leases for $699 with $2,999 down. Deliveries are expected to commence in March.
Older Model Y Still on Sale
Tesla continues to sell the older version of the Model Y, with pricing ranging from $44,990 for the long-range rear-wheel drive to $51,990 for the performance all-wheel drive. It remains unclear how long the older Model Y will remain on sale.
Stock Performance
Tesla's stock price remained relatively unchanged in early trading after the Model Y update announcement.
Product Refresh Impact
Tesla's updated product portfolio is expected to boost sales after a disappointing Q4 in 2025. The updated Model Y aims to address demand and competition challenges faced by the company.
Upcoming Releases
Tesla is anticipating the launch of a lower-priced EV in early 2025. The company also plans to release its Q4 and full-year results on January 29th, providing further insights into its financial performance and future plans.