Tesla has introduced a new premium Model Y, first unveiled in China, featuring significant improvements. The electric vehicle (EV) maker revealed this upgraded version in Europe, the US, and Canada after its initial launch in the Chinese market. The Model Y remains Tesla’s top-selling vehicle globally.
Pricing and Features of the New Model Y
The new Model Y, an all-wheel-drive long-range edition, costs $59,990 (€57,166.0) in the US. This represents a 25% price increase compared to the older model, priced at $47,990 (€45,733.75). Unlike previous versions, this premium Model Y includes Tesla’s full self-driving software as a standard feature. Previously, customers had to purchase this upgrade separately for $8,000.
Deliveries in the US will begin in March this year. Tesla now offers four versions of the Model Y in the US, with the latest one being the most expensive. Enhanced features include an upgraded exterior design with improved tyres, suspension, and wheels. The interior now boasts front and rear touchscreens, better connectivity, and an extended signal range.
This version also has a longer range of 320 miles (515 km) and provides increased storage capacity.
Challenges Amid Success
Despite its popularity, the Model Y has faced declining sales in 2024. Global demand for EVs has slowed, while competition from lower-cost Chinese rivals has intensified.
In other news, Tesla plans to recall over 1.2 million vehicles in China due to software issues. This recall includes both imported and domestically manufactured vehicles.
Tesla’s Recall in China
The recall addresses a reverse current problem that could disrupt the power supply of the vehicle computer’s mainboard. This defect may impair the rearview camera and increase accident risks. Tesla plans to fix the issue through over-the-air (OTA) updates.
The recall affects 335,716 imported Model X and Model S vehicles, along with domestically produced Model Y and Model 3 cars manufactured between July 16, 2023, and December 14, 2024. Tesla will contact users whose vehicles require alternative repairs. The recall is already in effect, according to the Chinese State Administration for Market Regulation (SAMR).
