Tesla Launches Refreshed Model Y In US With 25% Price Hike, Full Self-Driving Included

EV giant Tesla Inc. TSLA has launched its refreshed Model Y in the U.S., with the long-range all-wheel drive variant priced at $59,990.

What Happened: Tesla’s website lists the new Model Y and existing variants. Only the refreshed vehicle’s Long Range All Wheel Drive Variant is currently shown on the website.

The website says that deliveries of the new vehicle will start in March.

The old long-range all-wheel drive variant of Model Y was priced at just $47,990, implying the refreshed vehicle is roughly 25% more expensive.

However, the new vehicle includes the Tesla full self-driving feature, unlike in the case of its predecessor, which was an optional add-on priced at another $8,000.

The company has also launched the refreshed Model Y in Canada, with the new Model Y Long Range All-Wheel Drive priced C$20,000 higher than its predecessor.

Why It Matters: Tesla launched the refreshed Model Y in China earlier this month with its base variant priced at 263,500 yuan or 5.4% pricier than its older version.

The refreshed vehicle features changes to both its exterior and interior as compared to its forerunner.

Model Y, launched in 2020, is Tesla’s best-selling vehicle. The launch of the refreshed vehicle comes after the company reported its first decline in annual global deliveries in over a decade.

Tesla reported global deliveries of 1.79 million vehicles in 2024, down from full-year deliveries of 1.81 million in 2023.

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