On Jan. 24, 2025, Tesla (TSLA) launched a redesigned Model Y electric vehicle. It introduced the model in the Asia Pacific region already and launched it in the U.S., Canada, and Europe.
Tesla priced the Model Y Juniper at $59,990. The vehicle includes features like supervised full self-driving and Acceleration Boost. The exterior has the same proportions. The edges are rounder and have a new light bar. Notably, Rivian (RIVN) introduced an iconic light bar on the hood. Hyundai’s Kona EV also has a front light, too.
Tesla improved the vehicle’s aerodynamics, which should increase the range. The long-range all-wheel drive will have an estimated range of 325 miles. The interior has ambient lighting and ventilated front-row streets.
The redesign is not revolutionary. It is evolutionary. The firm needs generous tax credits to encourage consumers to buy this model. However, the new U.S. Administration is phasing out tax subsidies.
Consumers are hesitant to spend on big-ticket items. Still, Tesla is the most appealing EV in this segment. By comparison, Volkswagen (VWAGY) needed to catch up on software by investing billions in Rivian. Neither Honda (HMC) nor Toyota (TM) have an EV that could catch up to that offered by Tesla.
The Model Y refresh will not move TSLA stock. However, it enables the firm to retain its market share in the EV market.
