Tesla (TSLA) has unveiled a new version of its highly anticipated Model Y and the result is a paradigm shift in the product line of the electric vehicle maker. By late Thursday night, the company announced the “new Model Y” in the US and European market which sparked a new excitement in the brand portfolios. The updated version is fitted with design modifications, performance enhancement, and a new interior. With a start-up price of $59,990 with the “‘Launch Series'” cost, it has the potential to provide the world refresh to the intensely competitive EV market.
The Tesla Model Y Launch Series Unleashed (which provides all-wheel drive) and a range of upgrades including new suspension tuning, sharper edgy exterior design, and Cyberpunk-inspired light bars at the front and rear. This is quite a leap in the direction of Tesla’s design development, as it has been derived from futuristic cyberpunk themes as seen in the Cybertruck and Cybercab. Model Y Launch Series will be available for purchases to be delivered in March and will be exclusively offered at this trim level for now.
Is Tesla Y a budget-friendly model?
For those wanting a more budget-friendly option, the first versions of the Model Y are still on the market, for a starting price of $44,990 RWD, long-range model. However, the future of these older models is still unknown because Tesla is focusing all its energy on its new additions.
Although Tesla stock moved only slightly on Friday before the announcement, analysts expect the release of the brand new Model Y will be a good thing for Tesla’s income. In 2023 Tesla sold 1.78 million vehicles, not making it to their own ambitious goal, faced with competition and unfavorable market conditions. As part of its strategy to regain growth, Tesla has also promised to launch a more affordable electric vehicle in early 2025, in addition to other upcoming releases.
Tesla plans to restart its growth model and the sustainable year-on-year rate of 50% growth in the measured year to the same year-on-year, being new products launched and upgrading the car product portfolio.
Also, see: Tesla announces price hike on all electric vehicles in Canada