The rumors that the Model Y may be getting a redesign later this year continue to grow and, as if to fan the flames of those rumors, Tesla has decided to cut the price of the existing Model Y across its European markets. If you’re in the market for a Model Y, you definitely have some decisions to make now.
As reported by CNBC, Tesla has cut the prices for multiple configurations of the Model Y across Europe with some reductions as high as eight percent in some countries. The move comes as the company made similar price cuts over the last few months in China and the United States markets as well.
The biggest price reductions came in Germany, where the Long Range of the Model Y is now available for under 50,000 euros for the first time. The price cuts also hit certain Model Y configurations like the Rear-Wheel Drive and Long Range models across France, the Netherlands, and Norway.
In Germany, the Model Y rear-wheel drive model now sells for 42,990 euros ($46,760.65), marking a roughly 4.2% discount to the car’s previous retail value. The Model Y Long Range now costs 49,990 euros, lower by 8.1% from the previous price, while the Model Y rear-wheel drive model retails for 42,990 euros, down by 4.2%.
In France, Tesla lowered prices on its Model Y cars by as much as 6.7%, while in the Netherlands, Tesla reduced prices for the Model Y by up to 7.7%. In Norway, the company slashed prices by between 5.6% and 7.1%.
The price reductions of the Model Y across Europe come as rumors of a major redesign to the electric SUV continue to grow. According to a report from December, Tesla is “currently conducting preparation work in China for its refreshed Model Y sport utility vehicle and mass production may start as soon as mid-2024.” While the Model Y received a very small design update last year, this next update will feature “much more obvious exterior and interior changes.”
Rumors of a redesigned Model Y comes just months after the company officially unveiled project “Highland,” a major design update to the Model 3. The new version of the Model 3 got an overhaul to the front design on both the hood, grill, and lights. The headlights are also noticeably sleeker, giving off a more aggressive design.
The back seat now has its own display for entertainment and climate control, the front seats are now ventilated with both heating and cooling options, the interior lighting is now able to be customized, and the rear trunk has gotten larger for more storage. The new version of the Model 3 just launched in the United States last week for certain configurations.
As Tesla rolls out its redesigned Model 3 in the United States, it’s easy to think that what we’re seeing with the new Model 3 will be quite similar to what we get with the new Model Y design. Up until now, the exterior and interior of both vehicles have been very similar to each other since launch, so I wouldn’t expect Tesla to go a whole different way with its SUV now.
The company is also rolling out its Ultra Red and Stealth Gray color options — colors that were previously only available on the Model S and Model X — to the Model 3 and Model Y as well.