Tesla Launches Updated Model Y with Enhanced Features
Tesla has unveiled an updated version of the Model Y, introducing a range of enhancements to its popular crossover SUV. The "new Model Y" boasts a refreshed exterior and interior design, along with upgraded suspension tuning and other improvements.
Pricing and Availability
The Model Y Launch Series, featuring an all-wheel-drive configuration, will be available for purchase starting at $59,990 before incentives. Leases are also available for $699 per month with a $2,999 down payment. The older Model Y variants, including the long-range rear-wheel drive, long-range all-wheel drive, and performance all-wheel drive, remain on sale at their respective price points. Tesla has not specified the duration of the older Model Y's availability.
Design and Styling
The updated Model Y features distinctive Cybertruck-inspired LED light bars in the front and rear, showcasing a more angular design language. The interior has also been refreshed, offering enhanced comfort and functionality.
Sales Outlook
The introduction of the new Model Y aims to reinvigorate Tesla's sales after a challenging year in 2025. The company missed delivery estimates in the fourth quarter and fell short of its annual delivery target. The launch of the updated Model Y is expected to boost sales and contribute to Tesla's goal of returning to a 50% growth rate compared to 2023.
Upcoming Developments
Tesla is expected to announce its fourth-quarter and full-year results on Wednesday, January 29, after the market close. The company has promised the introduction of a lower-priced EV in early 2025, along with other new vehicles that will support its ambitious growth plans.