Tesla unveiled the 2025 Model Y on August 12, 2024, priced at $46,490—a 5% increase from its 2024 base model. The updated EV features a 15% range boost to 330 miles (EPA) and a faster 250kW charging capability, reducing 10-80% charge time to 18 minutes. However, quarterly U.S. sales fell 7% YoY in Q2 2024 amid rising competition, per Cox Automotive data.
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Rivals like Hyundai’s Ioniq 7 (52,000) now challenge Tesla’s dominance. Analysts note Tesla’s recent price hikes—up 12% since 2023—have softened demand despite software upgrades like Enhanced Autopilot (standard) and a new 15% more efficient heat pump. European registrations also dipped 9% in H1 2024, per JATO Dynamics.
To offset slowing sales, Tesla reintroduced a 25,000 compact EV by late 2025. CEO Elon Musk confirmed the Model Y refresh prioritizes margins over volume, targeting 22% gross profit per vehicle.
Source: autoblog
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