Since its release in 2020, Tesla Model Y has become the most popular EV on the market. Its success inspired competitors to make similar cars, but Tesla has not been idle. As the trailblazer in EV design and manufacturing, the automaker is already working on updated Model Y to be released in 2024.
As we look forward to the release of the upcoming Model Y, codenamed “Project Juniper,” this article will keep you up-to-date on all the latest news and rumors about the Model Y features, changes, release date, pricing and more.
According to inside sources, first units of 2024 Model Y will enter production in the October of 2024. This is much later than the anticipated starting date for 2024 Model 3 in September this year, and deliveries shortly thereafter.
If we assume a similar timeline between the start of production and the launch of the 2024 Model Y, it is likely the upcoming electric SUV will be released in December 2024.
Tesla has not released prices for the new Model Y, but we can look at factors that influence the price to estimate prices for the upcoming 2024 Model Y.
Tesla sold almost 164,000 units of Model Y in the first six months of 2023 alone. This represents a significant increase over the same period last year, partly fueled by reduced prices on the most popular EV.
Current starting price of $47,490 is the lowest in the history of Tesla Model Y. Edmunds estimates that in 2024, Tesla may reverse its trend have a starting price of $55,000.
We remain optimistic that Tesla Model Y prices will further decrease or at the very least, stay low. Our prediction is based on three factors: increased demand, investments in production lines, and Tesla leadership's stated goal to “standardize planning for future vehicles to reduce cost and complexity”.
It seems that Tesla is set to decrease prices, sell more units, and leverage economies of scale to make the new model Y affordable to more customers around the world.
We also need to account for factors like inflation that may increase prices on raw materials and components, which might make it difficult to accurately predict the price of 2024 Model Y.
In any case, $7500 tax credit for EVs will continue to apply and make these cars even more affordable.
Here are some other electric SUVs that are coming out in the near future:
Reuters says, “The leading EV maker has faced increasing competitive pressure in China, its second-largest market behind the United States, even after it cut prices. Analysts have said that is in part because it has been seen as lagging competitors in introducing new models, improved navigation or luxe interior touches that car shoppers in the world's largest EV market are seeking.”
Nevertheless, it is important to keep in mind that a lot of EVs that are coming out are in totally different price ranges than the Tesla Model Y. For drivers shopping for a luxury SUV that will not break the bank, the Model Y will remain one of the top options.
The updated Model Y is likely to enter production in September 2024, and start selling shortly thereafter. Because the release is at least one year away, details about specific changes are scarce. According to what little information we have, we're going to see major changes to a car that has been very consistent since its introduction in 2020.
Model 3 and Model Y have many similarities in terms of design as well as internal components. So the leaks about soon-to-be-released 2024 Model 3 might also suggest changes coming to the new Model Y.
After encountering and taking pictures of test 2024 Model 3 vehicles on the road, fans were able to render possible exterior of the car:
With 2024 Model 3 getting a major facelift, we are likely to see similar changes to the front and back of the 2024 Model Y as well.
Based on these details, artists at drive.com.au attempted to render what the new 2024 Model Y might look like:
With that being said, let's delve into details of possible changes coming to the new Model Y.
Imagined rendering of 2024 Model Y shows slimmer headlights and overall cleaner bumper design on the front. Tail lights and back side of the car will likely follow similar theme and look like the rear of 2024 Model 3.
The new Model Y is likely to feature three more cameras, two on the sides and one on the front. Additional cameras will most likely be used to enhance the self-driving feature and to implement 360 degree overhead view, a feature that most Tesla Model Y competitors already have. 2024 Model Y is likely to follow suit, as Tesla looks to entrench its position as the leader.
Similar to 360 degree view, powered front trunks are a popular feature that current Model Y does not have. The upcoming 2024 update aims to stave off competition, so Tesla might surprise us with powered frunks as well.
CarExpert also reports on translated post from Chinese social media site Weibo, where Tesla announced double-wishbone front and five-link independent rear suspension.
Interior of the new Model Y is likely to undergo a number of changes to improve the aesthetics, comfort, and functionality of the car.
It looks like Tesla is going to retire faux wood material used for dashboard and door trims of Model 3 and Model Y. Many Tesla drivers have come to us for carbon fiber replacements to upgrade their faux wood dashboard and door trims. So far, we don't know what material Tesla is going to use for dashboard and door trims in 2024 Model Y.
A leaked video suggests the upcoming Tesla Model 3 is likely to get ventilated seats, which is currently only available on expensive models S and X. Considering that it is more expensive than Model 3, Model Y is probably going to have ventilated seats as well.
Most competitors already have this feature, which puts Tesla Model Y at a competitive disadvantage. For all reasons mentioned above, the 2024 Model Y will most likely offer ventilated seats, at least as an optional upgrade for additional cost.
New Model 3 and Model Y EVs are also going to offer a steering yoke upgrade, further enhanced by steer-by-wire system.
Tesla is testing V4 superchargers in Europe. These can charge up to 350kW per hour, a significant upgrade over current limit of 240kW per hour. We will probably see a wider adoption of these superchargers next year.
If the rumors of new, more energy dense battery technology are true, significantly faster charging stations will minimize interruptions and significantly improve long-distance travel with EVs.
2024 Model 3 is likely to enter production in the next few months. Tesla might give it support for faster charging speeds, but on the other hand, Tesla cuts non-essential features to keep Model 3 affordable. Model Y is a more expensive car, and at least one year from being released, so we can hope that 2024 Model Y will have this feature.
As time goes on and release dates for Model 3 and Model Y get closer, there will be more news, rumors and leaks regarding the 2024 Model Y. Be sure to check back for these tidbits and latest updates on the car.
Depending on the variant of the Model Y you get, the 2023 SUV can give you anywhere from 455-533km per charge.
While that is a solid range, competitors are gaining ground in this area, so we expect that Tesla will do what it can to increase the range of the 2024 base model as well as the Performance and Long Range variants.
As we mentioned before, there is still no official 2024 Tesla Model Y release date. But December 2024 is our best guess at this point in time. We will update this section when Tesla announces the official release date.
Based on everything we know, 2024 Model Y is going to be a major upgrade over the current model. You may need to wait about two years to get it. Specific features and characteristics are still unknown, so there's a degree of uncertainty involved.
On the other hand, 2023 Model Y is a great car and the most popular EV right now. There are a lot of videos and reviews to research the car and make an educated decision.
Right now, Model Y cars are relatively cheap. So if you're looking for a reliable, fun, stylish EV, and don't care about the latest cutting edge technology, then buying 2023 Model Y might be the obvious choice.