Tesla Confirms New Model Y, Juniper, Will Not Be Released This Year; Reduces Price of Current Model

Model Y is on Sale

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Tesla is looking to score thanks to its Super Bowl surge. For the past couple of years, Tesla sales have substantially increased following the big game - despite not advertising. Now, as the king of the EV sector has started social media marketing, it has to get aggressive to cash in on that extra attention.

No Model Y Refresh This Year

With any campaign, the talking points must be sent out beforehand. Tesla has reported to its delivery advisors to not expect a Model Y refresh this year, at least in North America. The memo that was sent out, according to Teslascope, states:

“We heard your feedback that some customers are waiting to place their Model Y order as they anticipate a refresh similar to Model 3. It is important that we communicate transparently that there is no refresh for Model Y launching this year. There is no better time for customers to start driving the world's best-selling vehicle. “

Evidently, the company has taken insights from the Highland rollout to heart. When word spread of the imminent Highland release, sales of the previous model dipped significantly. Quashing rumors is a shrewd move, yet the challenge remains: how will Tesla safeguard against the leaks that stripped the Highland launch of its element of surprise?

Model Y Goes on Sale

Tesla has strategically reduced the prices of the Model Y, signaling an aggressive push to boost sales. For the rest of February 2024, customers can enjoy a $1,000 discount on the Model Y RWD and Long Range models. Tesla has also rolled out enticing incentives, such as free Full Self-Driving transfers, lifetime free Supercharging for early adopters, and additional discounts for early Cybertruck reservation holders.

Tesla investor Gary Black pointed out the potential missed opportunity for Tesla, suggesting that even a single Super Bowl ad could have significantly bolstered consumer interest in the brand and been cheaper than giving a discount. With a $7 million investment for a 30-second spot, Tesla would only need to sell an additional 875 vehicles, assuming a gross profit of $8,000 per car, to cover the ad cost. Black suggests that the resulting surge in consumer interest could far outweigh the immediate expense. In contrast, Tesla's current approach opts for a short-term sales boost, reducing the Model Y price by $1,000, equating to a $40 million monthly expenditure.

At $7M for a 30 second Super Bowl ad, $TSLA would have to sell 875 incremental cars (@$8k gross profit per car) to justify the cost of the ad. And the follow up interest from TSLA paying for a Super Bowl ad would be huge. Instead $TSLA cuts price by $1,000 per Model Y in the US… https://t.co/ZrqxUpRCcB

— Gary Black (@garyblack00) February 12, 2024

The transparency in Tesla's communication and its pricing strategy is designed to keep the sales momentum high, especially as competitors showcase their electric offerings through high-profile advertising campaigns. Despite not participating in the advertising blitz of events like the Super Bowl, Tesla remains steadfast in its approach, relying on direct communication and a robust offering of incentives to engage and retain customers.

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Tesla and Uber Partner for Another Discount Off New Vehicles

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Tesla and Uber are partnering to offer a new discount for Uber drivers. The offer is similar to one that was offered earlier in the year. Uber and Tesla previously offered a $2,000 USD purchase incentive under a special Uber referral code. That offer ended in March, and Tesla is now offering a new, similar offer.

Both the previous incentive as well as this new offer are only available in the United States.

Offer Conditions

The new offer is simple: If you’re an Uber Driver, you’ll be able to get $1,000 in Tesla credits upon taking delivery and another $1,000 in Uber Cash after completing 100 rideshare trips. You’ll need to purchase either a new Model 3 or Model Y—any variant, including the Performance versions, is acceptable. The program is not available for used or demo vehicles.

For anyone interested in trying out being an Uber driver, this is also a nice way to get $2,000 off a new Tesla. While the discount is no longer a purchase incentive, you can use the $1,000 in Tesla credits towards accessories, service, Supercharging, swag, or another vehicle. The Uber Cash, on the other hand, will be paid out alongside your 100th trip.

The offer is combinable with the Military Purchase Program, but you can’t use the Tesla referral program to get $500 off. If you’ve already got referral credits, though, you can use them toward the purchase of the vehicle.

Finally, you’ll need to take delivery before the end of the year (December 31st) and complete your 100th trip before February 15, 2025.

How to Use It

To take advantage of the offer, go to Tesla’s Uber page and log in via Uber. Both companies will verify that you’re eligible for the discount. You’ll also have to be in good standing as an Uber driver - if you’re not, no discount.

It's interesting to see Tesla and Uber partner so closely, given that Tesla’s Robotaxi service will become a direct competitor to Uber. Tesla also recently launched the Trip Navigation and Battery Awareness feature for Uber drivers.

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Tesla Updates Cybertruck Range Extender Timeline and Specs

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Tesla has released updated specifications and a revised timeline for the Cybertruck’s Range Extender. Originally launched alongside the Cybertruck last year, the Range Extender offered a significant boost in range along with a notable price tag—requiring a $2,000 reservation deposit and an estimated price of $16,000.

Updated Specs

Tesla has updated the Ranger Extender's range, now increasing the vehicle’s range from 340 miles to 445 miles on the Dual Motor variant and from 320 miles to 440 miles on the Cyberbeast.

The updated specifications reduce the vehicle’s total range with the Range Extender by about 6% compared to the original specs, while the Range Extender itself sees a 20% reduction in range. This is a substantial reduction, and Tesla has yet to explain the change. It’s likely that they’ve started testing Cybertrucks with Range Extenders under EPA test conditions, which may have adjusted the initial range estimates.

Delayed Timeline

The Range Extender was originally supposed to be available for those who pre-ordered sometime in early-2025. That timeline has now been pushed back to mid-2025. However, given Tesla’s lackluster attempts at maintaining timelines, we could fully expect this timeline to continue to slip closer to 2026, but we remain hopeful that it’ll arrive on time.

Tesla has been working towards perfecting its dry-cathode process, which could also be a likely cause of the delays. Tesla may want to ship the Range Extenders as dry-cathode—it's a small batch product and one that’s easier to replace or repair than an entire truck.

Overall, the Range Extender itself is an interesting item. While it does provide a small range increase—one that’s necessary for towing—it has its fair share of demerits. It takes up a considerable amount of bed space and must be installed and uninstalled by Tesla Service. Additionally, the weight in the bed will result in a change in the center of gravity.

We’re interested to see what Tesla does with the Range Extender - we’ve only seen a few pictures of engineering samples on Tesla’s site, but it could come with considerable changes when it launches.

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