Tesla Inc, a leading electric vehicle (EV) giant, is set to refresh its premium car offerings, the Model S and Model X, by the end of this year. This announcement was made by senior company executive, Lars Moravy, in a recent interview.
What’s Happening
Moravy stated that the company intends to show its Model S and X vehicles “some love” and refresh them later this year. The last refresh of these models occurred in 2021. In the past two years, Tesla has focused on updating its cheaper, mass-market offerings, including the Model 3 and Model Y.
Recent Updates
Tesla launched a refreshed Model 3 in August 2023 in China and in the US months later in January 2024. Additionally, the company launched a refreshed version of its best-selling Model Y SUV in January this year. According to Moravy, the company prioritized refreshing the Model 3 and Y first due to their higher volume sales, which was necessary to stay competitive.
The Future of Model S and X
Moravy assured that the S and X models are not going anywhere anytime soon. He mentioned that there is a certain nostalgia attached to these models, and the company has no immediate plans to discontinue them. As Elon Musk says, “we definitely have some nostalgia to them and like keeping them around.”
Why It Matters
The refreshes come amid concerns about an aging car lineup. Tesla’s latest offering is the Cybertruck, which started delivering in November 2023. However, this vehicle caters to a different customer demographic. The Model Y SUV, whose production began in January 2020, is the company’s latest car offering.
Pricing and Offerings
The Model X is Tesla’s priciest offering in the US, with a base version starting at $84,990. This is more expensive than the Cybertruck or Model S, whose base versions start at $79,990.
Conclusion
Tesla’s decision to refresh its premium car offerings is a strategic move to stay competitive in the market. With the updated Model S and X expected to be unveiled by the end of the year, customers can look forward to new and improved features in these luxury vehicles.