Tesla has officially launched a revamped version of its popular Model Y, introducing a higher-priced variant in the United States, Canada, and Europe on January 24, 2025. This new long-range all-wheel drive model is priced at $59,990, marking a significant increase of 25% compared to its predecessor, which retailed for $47,990. The launch follows the vehicle's initial release in China just weeks prior, highlighting Tesla's strategy to expand its offerings in key global markets.
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The upgraded Model Y comes equipped with advanced features, including the supervised full self-driving software, which was previously an optional add-on for $8,000 in earlier models. Tesla's latest variant not only boasts redesigned exteriors but also offers enhanced interior features and an extended driving range of 320 miles (515 km). This launch adds to Tesla's lineup, which now includes four versions of the Model Y in the U.S., with this new model being the most expensive, even surpassing the performance variant.
Since its debut in 2020, the Model Y has achieved remarkable success, becoming the world's best-selling car in 2023. However, the aging model faced challenges last year due to increased competition from rivals in China and a general decline in electric vehicle demand in other markets. With deliveries set to begin in March, Tesla aims to regain momentum and solidify its position in the electric vehicle market.
News Source: finance.yahoo
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