Tesla chief executive Elon Musk has revealed that the electric car maker will not launch a refreshed Model Y this year.
"No Model Y 'refresh' is coming out this year", the tech mogul posted on X, saying Tesla continuously improves its cars, "so even a car that is 6 months newer will be a little better."
His post was in response to an X user, who said, “There's rumors going around that the $TSLA Model Y Refresh will be ready by next month.... I'm having a hard time believing that."
Why no Tesla Model Y this year?
The EV maker has slowed down the relaunch of its old models as consumer appetite for top-end products are at a low amid high interest rates, according to Reuters. The US company's vehicle deliveries have plunged globally in the first quarter for the first time in around four years, as per the news agency.
Tesla's Chinese rivals, including BYD, are posing stiff competitition by inducting cheaper models in the market. Besides Model Y, Tesla has other models including Cybertruck, Model X, Model S and Model 3.
Musk's latest post comes a day after the tech baron said he is looking forward to his companies doing "exciting work" in India. “Congratulations @narendramodi on your victory in the world's largest democratic elections! Looking forward to my companies doing exciting work in India,” he posted on X.
Musk is now expected to travel to India by late 2024 as Tesla is planning to enter the Indian EV market soon. After Musk met Modi in the US in June 2023, there were talks that the Tesla CEO would look at setting up a manufacturing unit in India with billions of dollars worth of investments. He is mulling to induct his satellite internet venture Starlink in the country, subject to regulatory nods.
