In China, Tesla’s new Model Y will cost even more
Investors are still awaiting a cheaper revamp.
Tesla customers in China can soon get their hands on the long-awaited Model Y revamp, internally codenamed “Juniper.” China deliveries begin in March, while the US and elsewhere will likely take a few months longer.
The updated vehicle features a number of interior and exterior design changes, taking notes from Tesla’s 2023 Model 3 revamp and the Cybertruck.
Notably, the new model costs about 5% more than the older version in China. That’s important because investors have long been waiting for more affordable new Teslas. Last year, the EV company scrapped plans for a $25,000 model, but said it would release cheaper versions of existing models and a low-cost robotaxi instead.
The average selling price for Tesla vehicles has been coming down precipitously as the company has been offering deep discounts to move existing stock, and finagling prices to get them low enough to qualify for big federal tax credits, but that’s not quite the same as offering a mass-market car.
Tesla sales in China increased last year, though more slowly than in years past, as it struggles to compete with local companies like BYD. In the US and Europe, the company sold fewer units in 2024 than it did a year earlier. Overall, the company notched its first annual sales decline as a public company.
