No Model Y ‘refresh’ is coming out this year – Tesla’s Musk

Tesla won’t debut a refreshed Model Y this year, as per Chief Executive Officer Elon Musk’s recent post on X.

Musk stated, “No Model Y ‘refresh’ is coming out this year,” affirming Tesla’s continuous efforts to enhance its cars: “so even a car that is 6 months newer will be a little better.”

According to Reuters, the company has been sluggish in updating its ageing models, partly due to high interest rates dampening consumer interest in significant purchases, while competitors in China, the world’s largest auto market, introduce more affordable models.

Tesla’s global vehicle deliveries experienced a decline in the first quarter for the first time in nearly four years. Last year, Reuters reported Tesla’s preparations for a production overhaul of the Model Y, targeting production commencement in 2024.