Welcome to our weekly Tesla news recap, where we discuss and share the latest Tesla news. If you don’t have the time to constantly monitor Tesla and their ever-changing company and products, this is for you. This week, the Tesla Model Y was finally revealed, we received some more price changes, Tesla announced intention to keep their stores open, and more.
Model Y Reveal
After a few years of teasing its existence, the Model Y was finally revealed to the public on Thursday. The event was by invitation only but Tesla livestreamed it for the masses. In case you missed it, here’s the full presentation.
Some awed, others mocked, nothing new for a Tesla announcement. The Model Y does boast a very similar look to the Model 3 but that was to be expected. I guess after years of blowing the crowds away, many were disappointed by such a dull announcement.
The Model Y is over a year out but will still hold the same battery as the Model 3. It will offer less range and speed as it is slightly larger. There’s also a 3rd row configuration available but by no means would this be a comfortable daily driver for a large family. The Tesla Model Y is a crossover, a small crossover, it’s not an SUV.
The Long Range Model Y will have a 300 mile range. The Performance version will go 0-60 in 3.5 seconds and have a top speed of 150 mph. The Model Y is expected to begin deliveries in Fall of 2020 with the Standard Range arriving in Spring of 2021. The online configurator shows the car as having no chrome which is a positive to some alongside its $39,000 base price.
The Tesla Model Y is available to order today.
Model 3 Range Increase
During the release of the Standard Range Model 3, Elon Musk announced plans to increase range for cars already on the road. The Model 3 would go from 310 miles to 325 miles for both new and existing customers. That update has begun to roll out this week.
There was also a stated ~5% power increase to come alongside this update. That upgrade has not been confirmed as received just yet. Not everyone on the latest software update has reported a range increase so Tesla could be rolling these upgrades out gradually.
Should be ~5% peak power increase with March 15 software release
— Elon Musk (@elonmusk) February 28, 2019
Last week we reported on major changes to Tesla’s sales strategy and pricing. They stated they would close a large portion of their stores and rely heavily on online sales instead. This was done in order to reduce pricing by ~6% throughout the entire lineup. The prices on Autopilot packages were also decreased for both new and current owners. Some of these changes caused many owners to be upset and the decision to close stores had analysts questioning that choice.
Well now you can ignore all of that as Tesla has decided to revert all of these changes. All pricing goes back to normal on Monday so if you’re a current owner, take advantage of the discounted Autopilot and FSD pricing now. If you’re considering purchasing a Tesla, prices will go up ~3% all around on Monday as well.
Tesla is still closing stores but will now only close half as many as originally stated. These new prices should still be lower than previously as they’re only stating a ~3% increase. The base $35,000 Standard Range Model 3 will remain at $35,000. But, the premium interior option for that vehicle will be increasing alongside everything else.
We are still closing stores, just not as many as before. This basically splits the difference — about half as many stores closed, but then can afford only about half the price reduction. Was discussed with exec team & board.
— Elon Musk (@elonmusk) March 12, 2019