Tesla has announced that it will begin deliveries of the newly refreshed Model Y SUV in the U.S. starting in March, according to updated listings on the company’s website. The latest version, known as the Model Y Juniper, features a redesigned exterior and upgraded interior, aiming to reinvigorate Tesla’s core automotive business amid rising competition.
Priced at $59,990 before incentives, the updated Model Y includes a federal tax credit of $7,500 for qualifying buyers. The refreshed design introduces a new fascia, updated front and rear light bars, and a reimagined interior with ventilated seats, reclining second-row seats, and enhanced connectivity with faster Wi-Fi.
Tesla began taking orders for the new Model Y variant in Canada and Europe, following its launch in China two weeks ago. CEO Elon Musk showcased the revamped SUV in a video shared on Tesla’s official account, generating buzz among potential buyers.
The release comes at a critical time for Tesla, as it looks to strengthen its position in the electric vehicle market. While the company launched the highly anticipated Cybertruck at the end of 2023—making it the bestselling electric truck in the U.S.—overall vehicle deliveries declined for the first time in 2024. This dip in sales underscores the challenges Tesla faces as new competitors enter the EV space.
Tesla’s fourth-quarter and year-end financial results are set to be released this Wednesday, with executives expected to address the company’s strategy moving forward. Industry analysts are particularly interested in how Tesla plans to sustain growth amid an aging lineup and shifting market dynamics.
Meanwhile, potential policy changes could impact the EV industry, including Tesla. Following the inauguration of President Donald Trump for his second term, an executive order was signed indicating a potential repeal of the federal electric vehicle tax credit. The credit, established under the Inflation Reduction Act, has played a significant role in incentivizing EV purchases. While Tesla has historically benefited from such subsidies, the removal of these incentives could have a greater effect on emerging EV manufacturers struggling to gain market share.
The unveiling of the new Model Y marks Tesla’s attempt to refresh its lineup and attract new buyers in a rapidly evolving automotive landscape. As the company navigates economic and political shifts, the success of its updated SUV could play a crucial role in shaping its future.
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