As recently announced, Tesla has added a Model Y variant to their portfolio of electric vehicles. It has been named Long Range RWD and is accessible to consumers in the US at a starting price of $44,990. Customers can order in eligible regions, with the SUV being gradually delivered to customers later this year. Those looking to take advantage of the $7,500 tax incentive from the federal government would end up paying a mere $37,490 and $44,990 when rounding off; these figures make the new Model Y variant the second-cheapest EV offering from Tesla after the rear-wheel Model 3.
Tesla released the updated Model Y as a budget option in its extensive product lineup, alongside the rear-wheel drive variant. Among many features, one standout specification is the claimed driving range of 357 miles, 30 miles more than the AWD variant. While slower, the single motor on the rear will allow the car to reach 0-60mph in just 5.4 seconds. Budget vehicles are usually associated with a lack of performance. Still, the Long Range RWD maintains a segment benchmark top speed of 125mph in this case.
Tesla has made significant changes to the latest version of the Model Y. Besides offering a remarkable travel range, the vehicle receives multiple updates to improve comfort and performance. The cabin now includes acoustic glass, which mitigates sound, further quieting the vehicle’s tone. Moreover, the interior upgrade now includes lavish touches such as seat heating and cooling, further enhancing the ride quality. Engineers refined the closing of the door to enhance the auditory experience, making it quieter and more premium.
Tesla might be losing the market slightly, considering they took a 13% hit on their quarterly sales. Though this new budget-friendly model can change the narrative. Tesla has more and more competitors entering the electric vehicle space, more so with a recent shift in consumer buying habits. There’s been a massive decrease in sales in Europe along with China, like in the UK, where they dropped 62% sales in April alone. To combat this, Tesla hopes that the new Model Y variant will appeal to a larger audience, especially in regions where pricing is a more relevant factor.
Gaining market shares in global markets can be Tesla’s biggest challenge in overcoming the persistent downward trends globally. Though the lower price point will definitely boost sales. As a part of introducing budget models in Europe, the models have not proven to benefit sales so far. However, with the new Model Y Long Range Rear Wheel Drive, Tesla aims to bolster its position in culminating parts of Europe where cost-saving consumers are actively looking for electric alternatives.
Tesla’s Gigafactory in Texas will produce the new Model Y, and the company is already accepting orders, with deliveries expected to start in a few weeks. The car is more inexpensive and will have a greater portion of the technology and performance features that place Tesla at the top of the electric car industry. It is still too early to know whether this new trim will be capable of helping make a change in Tesla’s annual sales slump. Still, it does enable the company to broaden its strategy. Its broad audience appeal is likely beneficial to boost sales.
Please visit Tesla’s Official Website for more information.
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Hey, I’m Badal! I’m super passionate about cars—especially electric ones. Whether it’s EVs, electric trucks, bikes, or anything with a battery and wheels, I’m all in. I love writing blogs that break things down for fellow enthusiasts and curious readers alike. Hope you enjoy the ride as much as I do!
