Tesla Model Y: Buy Now or Wait for the Refresh?

Tesla Model Y: Buy Now or Wait for the Refresh?

The Tesla Model Y has quickly become a popular choice for Kiwi EV enthusiasts since its introduction to the New Zealand market in 2022.

However, with rumours of an upcoming refresh, many potential buyers are left wondering whether to purchase the current model or wait for the updated version. Let’s explore both options to help you make an informed decision.

Current Model Y: What's on Offer

The existing Model Y is available in three variants in New Zealand:
  1. Standard Range (Rear-Wheel Drive)
    • Price: $65,900
    • WLTP Range: 455 km
    • 0-100 km/h: 6.9 seconds
  2. Long Range (All-Wheel Drive)
    • Price: $75,900
    • WLTP Range: 533 km
    • 0-100 km/h: 5.0 seconds
  3. Performance (All-Wheel Drive)
    • Price: $86,900
    • WLTP Range: 514 km
    • 0-100 km/h: 3.7 seconds

All variants offer impressive performance, range, and features that have made the Model Y a top-selling EV globally.

The Upcoming Model Y Refresh

The refreshed Model Y, known as "Project Juniper," is expected to launch in 2025. Here’s what we anticipate:
  • Design Updates: The refresh will likely feature design elements inspired by the recent Model 3 facelift, including a full-width light bar with embedded Tesla lettering at the rear and slimmer lights for a modern look.
  • Interior Improvements: Expect updates to the centre console and possibly new seating options.
  • Enhanced Performance and Range: The new model may offer improved range, potentially reaching around 560 km for the base variant, along with performance enhancements for the top-tier model.

Reasons to Buy Now

  1. Immediate Availability: If you need a new vehicle soon, the current Model Y is readily available for purchase.
  2. Proven Technology: The existing model has been on the market long enough to establish a solid track record of reliability.
  3. Potential Discounts: As the refresh approaches, there may be deals or discounts on the current model.

Reasons to Wait

  1. Updated Design and Features: The refresh promises a more modern aesthetic and improved interior features.
  2. Improved Range: The new model is expected to offer better range across all variants.
  3. Enhanced Performance: Especially for the Performance variant, which may rival competitors like the Porsche Macan Turbo.

Additional Considerations

  • Seven-Seater Option: There’s speculation that Tesla may introduce a seven-seater version of the Model Y sourced from its Shanghai Gigafactory.
  • Price Changes: The refreshed Model 3 saw a price drop upon its arrival; a similar situation could occur with the updated Model Y.
  • Continuous Improvements: Tesla frequently makes incremental improvements to its vehicles, so even a car purchased six months later might have slight advantages.

Conclusion

The decision to buy now or wait ultimately depends on your personal circumstances. If you need a vehicle immediately and are satisfied with what the current Model Y offers, it remains an excellent choice. However, if you can afford to wait and desire the latest features and improvements, holding out for the refresh might be worthwhile.

The EV market is evolving rapidly, and what is cutting-edge today may soon become standard. Whichever option you choose, the Tesla Model Y continues to offer a compelling package for Kiwi EV enthusiasts.

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