Tesla Inc. has launched its refreshed Model Y in the U.S. market, with the long-range all-wheel drive variant priced at $59,990. This new vehicle features substantial updates, including the standard full self-driving capability.
What’s New in the Refreshed Model Y
- The long-range all-wheel drive variant is currently the only version of the refreshed Model Y available on Tesla’s website.
- Deliveries of the new vehicle are set to start in March.
- The refreshed vehicle includes the Tesla full self-driving feature, which was previously an optional add-on priced at $8,000.
- The new Model Y has undergone changes to both its exterior and interior designs.
Price Comparison
The old long-range all-wheel drive variant of Model Y was priced at $47,990, making the refreshed vehicle approximately 25% more expensive. However, the inclusion of the full self-driving feature as a standard feature helps to justify the price increase.
Global Launch
The refreshed Model Y has also been launched in Canada, with a price increase of C$20,000 compared to its predecessor. Earlier this month, Tesla launched the refreshed Model Y in China, with its base variant priced at 263,500 yuan, a 5.4% increase from the previous model.
Why It Matters
The launch of the refreshed Model Y comes after Tesla reported its first decline in annual global deliveries in over a decade, with 1.79 million vehicles delivered in 2024, down from 1.81 million in 2023. The Model Y, launched in 2020, is Tesla’s best-selling vehicle, and the updated model is expected to help the company regain its momentum in the market.
Conclusion
The refreshed Model Y offers several exciting updates, including the standard full self-driving feature and a new design. While the price increase may be a concern for some buyers, the inclusion of the full self-driving feature helps to justify the higher cost. As the electric vehicle market continues to evolve, Tesla’s updated Model Y is poised to remain a top competitor.