Tesla Launches Revamped Model Y in the US Starting at $60,000.

According to fresh listings on the company's website, Tesla will begin delivering its updated Model Y SUV in the US in March.

The Model Y Juniper costs $59,990, not including the $7,500 federal tax credit for new electric vehicle purchases. According to the website, it has a revised grille, front and rear light bars, an improved interior with cooled seats, reclining second-row seats, and speedier Wi-Fi.

Tesla began accepting orders for the new Model Y variation from consumers in Canada and Europe on Thursday, while sales started in China around two weeks ago. CEO Elon Musk posted a video from the Tesla account on X Thursday night, showcasing the forthcoming Model Y.

Tesla seeks to reinvigorate its core car industry, which faces rising competition worldwide. After the markets close, Tesla executives will discuss the company's fourth-quarter and year-end figures on Wednesday.

Tesla's final new model, the angular steel Cybertruck, will be available to consumers at the end of 2023. While it became the best-selling electric truck in the United States last year, sales did not offset a drop in overall deliveries, which dipped for the first time in 2024.

Musk, who also manages SpaceX and owns the social media platform, X, has received much attention recently due to his significant funding of President Donald Trump's 2024 campaign and his role in the newly elected president's inner circle.

Following his inauguration on Monday to begin his second term in the White House, President Trump signed an executive order stating that he intends to eliminate the federal electric vehicle tax credit, which Congress authorized as part of the Inflation Reduction Act under President Biden. Tesla has long profited from government incentives, but removing the credits will likely hurt EV market competitors.

Before the launching of the new Model Y variation, Musk's political rhetoric, combined with Tesla's aged portfolio, contributed to the company's reputation deterioration, according to Brand Finance research.