Tesla has launched a redesigned version of its best-selling Model Y crossover in the United States, Canada, and Europe, following its earlier release in China.
The revamped model comes as the company prepares to launch a more affordable variant in the first half of 2025 to expand its customer base and boost sales.
The Model Y, introduced in 2020, became the world’s best-selling car in 2023 but faced slowing sales last year due to rising competition in China and Europe, leading to Tesla’s first annual delivery decline. The new “Launch Series” variant, priced at $59,990 in the U.S., is 25% more expensive than the priciest version of the older Model Y.
The updated Model Y features redesigned exteriors, improved interiors, and an extended range of 320 miles (515 km). It also includes Tesla’s Full Self-Driving advanced driver assistance system as a standard feature, typically an $8,000 add-on for other models.
Deliveries for the redesigned Model Y are set to begin in March, Tesla announced.
The company continues to offer the older Model Y in its inventory with discounts exceeding $3,500 on some variants. Tesla had similarly introduced a refreshed version of its Model 3 sedan in North America last year, maintaining its pricing while adding design updates and new features.
Tesla is scheduled to report its fourth-quarter results on Wednesday.
