Tesla's Model Y is much cheaper to own once you consider its long-term cost
Tesla (Edited by NATA)
Tesla has triumphed in Kelley Blue Book's 2023 5-Year Cost to Own Awards, with both Model 3 and Model Y emerging victorious in the Luxury Electric Car and Luxury Electric SUV categories. This prestigious recognition highlights Tesla's commitment to delivering vehicles with low projected ownership costs, making them the ideal choice for discerning car shoppers.
The Growing Importance of Total Cost of Ownership
Considering the total cost of ownership is becoming increasingly significant for consumers when purchasing a new vehicle. Factors such as fuel, maintenance, insurance, and vehicle depreciation can vary greatly among different models, making it crucial to select a car that aligns with your long-term budget.
Closing the Gap: Price Parity Between EVs and ICE Cars
Electric vehicles have often been perceived as more expensive than their internal combustion engine (ICE) counterparts. However, Tesla's aggressive pricing has closed the gap and, with incentives, are equal to the ICE competition in some regions. As price parity between the two is closing, Tesla is demonstrating even greater cost advantages over time. Teslas offer numerous benefits, such as lower maintenance requirements and reduced environmental impact.
Tesla's Innovative Design Leads to Additional Cost Advantages
Tesla's ingenuity extends beyond creating powerful, eco-friendly cars. Their models, like the Model 3 and Model Y, are designed to minimize long-term ownership costs. With no need for oil changes, gasoline, or transmission work, Tesla owners enjoy substantial savings compared to traditional ICE cars.
As a result, Tesla's vehicles not only deliver luxury and performance but also offer impressive cost advantages in maintenance and operation. These awards further solidify Tesla's position as a leader in the luxury electric market.
With an increasing number of consumers considering electric vehicles, Tesla's success in the 2023 5-Year Cost to Own Awards highlights the brand's dedication to providing long-term value. As the gap between EV and ICE car prices narrows, Tesla's focus on cost-effective, innovative vehicles redefines the electric car ownership experience. Tesla's Model 3 and Model Y prove that luxury, sustainability, and affordability coexist, making them attractive options for car shoppers seeking an eco-conscious and budget-friendly choice.
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Tesla’s long-anticipated refresh of the Model S and Model X is drawing closer, and we’re finally getting a clearer look at what to expect. Although the update is relatively minor, it does help freshen up the look of the Model S and Model X since their redesign in 2021.
While the camouflage made the grill-like opening at the front of the vehicle hard to spot, it was evident something was there. However, new photos shared by The Kilowatts show that Tesla is covering up this opening with a material that has a carbon fiber finish, at least on the Plaid variant.
While we were hoping for more drastic changes, such as a grill-less look with a light bar, similar to the new Model Y, it looks like that won’t happen with this refresh.
The limited design changes suggest Tesla may be trying to limit tooling and manufacturing changes for these lower-volume vehicles. While the headlights already support adaptive beams, they remained unchanged from the current Model S and Model X.
Our best look at the new front bumper camera on the upcoming Model S
Tesla has also updated the rear diffuser, though it’s unclear if this will be exclusive to the Plaid version. While the refreshed Model Y moved its rear camera up into the rear trim piece, the Model S keeps it in the same location as the previous generation.
Ambient Lighting Arrives
For the first time, we’re getting a look at the refreshed interior — and there’s one noticeable addition: ambient lighting. This feature, which is now available on all of Tesla’s other vehicles, is finally making its way to the Model S and Model X. The implementation appears closer in style to the Model Y, with lighting running along the door panels but stopping about halfway down before continuing on the rear doors.
While ambient lighting is primarily aesthetic, Tesla has been expanding its use for more dynamic and interactive features.
Recent Ambient Lighting Additions
Over the last year, Tesla has made the ambient lighting feature more useful by integrating it with other Tesla vehicles. For example, Santa Mode and Rainbow Road easter eggs will now take advantage of the ambient lighting, with Santa Mode cycling the colors between red and green for a Christmas flair [videos], while Rainbow Road cycles the colors of the rainbow.
Tesla has also added other little additions, such as turning the ambient lighting red when Service Mode is active in the vehicle. They have also added additional options in recent updates to ambient lighting, such as the ability to choose the brightness of the lights and choose whether they'll always remain on or only come on at night.
New Exterior Color
klwtts/X
The refreshed Model X was also spotted in a new exterior color, similar but not identical to the Glacier Blue available on the new Model Y outside North America.
Launch Timeline
Although Tesla hasn’t officially said anything about a new Model S besides that, it’ll receive some “love” later this year. The Kilowatts noted that Tesla doesn’t have any Model S or X vehicles in their Fremont outbound lot, making it seem like these models could be announced any day now.
While the updates are relatively minor in terms of body redesign, the addition of the front bumper camera and ambient lighting are very welcome additions.
Stay tuned to see if there are any additional changes to these vehicles.
Just like how Carscoops spotted the refreshed Model S, they also spotted the refreshed Model Y, and this time, it was likely the Performance variant.
When Tesla launched the Launch Edition of the refreshed Model Y, they opened the floor to orders for the Rear-Wheel Drive (later introduced to the U.S.) and All-Wheel Drive Long Range variants, but not for the Performance model. This was the same strategy that was used with the refreshed Model 3, whose performance version launched months after the new Model 3.
We’ve already seen some covered-up refreshed Model Ys at Giga Texas, so it seems almost certain that Tesla is in their final evaluation phases prior to this variant’s launch.
With that said, let’s dive into what we saw at the ‘Ring.
Minor Exterior Updates
The Nürburgring prototype was fully wrapped in a white and black camouflage, but thanks to the crisp photos, we got some detailed looks at the exterior of the vehicle. A new and more distinct spoiler is on the rear hatch, similar to the previous generation’s Performance model. That spoiler is likely carbon fiber and will also likely make its way to the Tesla store in the future as a cosmetic add-on for non-Performance buyers.
That spoiler is super noticeable from the side.
Carscoops
Carscoops also noticed that the vehicle was sitting noticeably closer to the ground than the refreshed Model Y Long Range. We’re expecting Tesla to include an adaptive suspension system, similar to the one that arrived with the Model 3 Performance. These adaptive suspensions can adjust to driver and road input in real-time with adaptive damping.
Interestingly, the front fascia looks relatively unchanged, lacking the dedicated brake cooling ducts that the Model 3 Performance has.
Powertrain
As usual with Tesla, we haven’t heard anything in terms of official specs on the powertrain for this Performance variant, but we can make some good guesses. The Model 3 Performance and Model Y Performance usually sport the same amount of horsepower, so we’re guessing that the refreshed Model Y Performance will also have 510 HP. That gives it about a 3.2-second 0-60 mph (0-100km/h), which is a generous upgrade from the previous generation’s 3.5-second speed at 470 hp.
Wheels & Brakes
On the ‘Ring, the refreshed Model Y Performance is sporting new alloy wheels that are reminiscent yet slightly distinct from the Model S Arachnid wheels. These new Performance wheels also look like they’re a staggered setup, similar to the rest of Tesla’s performance lineup, which means wider rear wheels for better traction and handling. Alongside the red brake calipers, we expect that there are larger, performance-optimized brakes to handle track days.
Pretty Arachnid-looking wheels. We like them!
Carscoops
Performance Launch Date?
Given the fact that this is only the second time we’ve seen the refreshed Model Y Performance, we expect the launch to be a couple of months out. Tesla is still likely working on optimizing the adaptive suspension characteristics and fine-tuning Track Mode 3.0 for the vehicle, and hopefully also designing some unique Performance seats to go with it all.
We’d expect Tesla to launch this variant sometime in late Q3 or early Q4 2025, which is still a few months away. Perhaps the new Model S and Model X will also launch alongside it? That may just make a great Tesla event.
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