Tesla delays the release of the updated Model Y: Causes and consequences

The American manufacturer of electric cars Tesla does not plan to release an updated version of the Model Y in 2024. The main reason for this decision was a decrease in demand in the market, where consumers are increasingly choosing cheaper models made in China. This is reported by Reuters.

"There will be no updated Model Y this year," Tesla CEO Elon Musk said. He added that the company is constantly improving its cars, noting: "even a car that is six months newer will be a little bit better."

Earlier it was reported that Tesla planned to modernize the production of Model Y with the aim of starting production of the new version in 2024. However, these plans have been revised against the backdrop of economic challenges and changing consumer preferences.

According to Reuters, Tesla has been slow to update its older models. High interest rates have dampened consumer interest in expensive goods, while Chinese rivals, in the world's largest auto market, offer cheaper alternatives. This significantly affected Tesla's position in the market.

Additionally, Tesla's global vehicle shipments fell in the first quarter of 2024 for the first time in nearly four years. This is another indicator that indicates the difficult situation in which the company found itself.

Elon Musk also talked about the possibilities of the Y Standard Range model with rear-wheel drive of the standard range. According to him, this car, which until now had a range of 260 miles (418 km), could actually have an additional 60 miles (96 km). Owners of these cars will be able to increase the range for a fee.

Thus, the decision to delay the launch of the updated Model Y shows that Tesla is actively adapting to new economic conditions and changes in consumer preferences, while continuing to work on improving its products.