Tesla is set to unveil a redesigned Model Y in 2025, as the company shifts its vehicle design strategy. Current financing options include a 0.99% APR for 60 months and lease deals starting at $349/month with a $2,999 down payment.
The anticipated redesign, referred to as the "Juniper" update, will follow the January "Highland" refresh of the Model 3, which included various enhancements. Industry analysts suggest that the Model Y appears outdated in key markets like California and China, where competition is intensifying.
John McElroy, host of Autoline, emphasized the need for a styling upgrade to attract existing Model Y owners. Additionally, S&P Global Mobility analyst Tom Libby noted that while the overall retail EV market saw a 24% increase in August, Tesla's growth lagged significantly.
In conjunction with the Model Y redesign, Tesla CEO Elon Musk confirmed plans for affordable models, including the recently announced Cybercab, projected to cost around $25,000. This move aligns with Tesla's broader strategy to enhance autonomy in its vehicles, as highlighted in recent earnings calls.