Tesla launches the new Model Y in the United States, Canada and Europe a few weeks after China – 01/24/2025 at 12:32 p.m.

Tesla launches the new Model Y in the United States, Canada and Europe a few weeks after China – 01/24/2025 at 12:32 p.m.
Tesla launches the new Model Y in the United States, Canada and Europe a few weeks after China – 01/24/2025 at 12:32 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

(Rewritten all text, added background)

Tesla TSLA.O launched a redesigned version of its best-selling Model Y crossover in the United States, Canada and Europe on Thursday, weeks after it was first released in China.

The refreshed version comes ahead of the widely anticipated launch of a cheaper model in the first half of 2025, as the Elon Musk-led electric vehicle maker seeks to increase sales volumes and attract a larger number of buyers.

The Model Y was first launched in 2020 and it became the world's best-selling car in 2023. The aging model lost momentum last year, with Tesla recording its first decline in annual deliveries, penalized by competition from its rivals in China and Europe.

The most expensive variant of the car, called the “Launch Series”, will cost $59,990 in the United States, according to the company's US website, making it 25% more expensive than the most expensive version of the old car.

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The new Model Y, only available in the “Launch Series” version for a limited run, features a redesigned exterior, improved interior features and a slightly increased range of 320 miles (515 km).

The variant is equipped with the “Full Self-Driving” advanced driver assistance system, which is an $8,000 option on other Tesla models.

Tesla, which is scheduled to report fourth-quarter results on Wednesday, said it would begin delivering the new car in March.

The company also listed the older version of the Model Y in its inventory, with discounts of more than $3,500 for some variants.

A year ago, the world's largest automaker launched a refreshed version of its Model 3 compact sedan in North America at unchanged prices, with design updates and some new features.

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