Tesla's current Model Y has been in production for almost four years without a refresh
A refreshed Tesla $TSLA Model Y is not in the cards for the automaker in 2024, according to CEO Elon Musk. This can be seen as a bit of a bummer to folks who wanted a Model Y with all of the updates seen in the refreshed Model 3, such as ambient lighting, ventilated seats and a blind spot monitor. But, alas, it is not to be. At least, it is not to be in 2024. The now-very-old Model Y will soldier on in its current form, according to Automotive News:
“No Model Y ‘refresh’ is coming out this year,” Musk wrote on social media platform X $TWTR on June 8, responding to a Tesla fan. “I should note that Tesla continuously improves its cars, so even a car that is six months newer will be a little better.”
In January, Tesla launched a freshened version of its Model 3 sedan in the U.S., which came after its introduction in Europe and China last year. Among the upgrades were ambient lighting, ventilated seats and a traditional blind-spot monitor near the side mirrors. The Model Y freshen is expected to mirror the Model 3 updates.
On social media sites such as Reddit $RDDT, there have been ongoing rumors about a possible Model Y freshen in China. Reuters reported last year that an updated Model Y would launch this year.
It would seem that a lot of folks aren’t exactly thrilled with this news from Musk. It’s not exactly shocking since the current Model Y has been in production for nearly 4 years at this point. That’s an eternity without a refresh.
In response to Musk’s June 8 post, some Tesla owners said that they’re waiting for the updates before buying a Model Y, which now has fewer interior comfort features than the lower-priced Model 3. The sedan also has new front and rear fascias and a more mature look compared with the previous model.
“A refresh of the Model Y is what my family and I are awaiting,” wrote X user Waze4Tesla in response to Musk. “Essentially the recent refresh Model 3, but in the Model Y. It’s the only reason we didn’t go for the financing promo last month,” the user said, referring to a Model Y promotion that ended in May.
This aging lineup is even hurting Tesla on Wall Street.
Wall Street analysts cite Tesla’s aging vehicle lineup, with the exception of the Cybertruck launched last year, as a key reason for the automaker’s cooling sales growth globally.
Even with the Model 3's recent freshen, the sedan’s physical appearance has not changed much since it went on sale in 2017. The Model Y has not been freshened since it was launched in 2020. The higher-priced Model S and Model X also have not changed physically since launching in 2012 and 2015, respectively.
It’s being reported by Auto News that Tesla is expected to introduce the refreshed Model Y in January of 2025 at its factories in the U.S., China and Germany. We should also be getting more clarity on Tesla’s product roadmap during Musk’s August 8 “robotaxi” event.
Despite all of this, the Model Y still sells really well. It’s Tesla’s best-selling vehicle, and it was the fifth-best-selling vehicle in the U.S. overall in 2023.
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