2024 Tesla Model Y price and specs: Update coming soon?


Key Points

  • Model Y SUV price starts from $65,400
  • Up to 533km range for popular Tesla electric car
  • Hardware 4.0 update coming, Juniper possible in late 2024

The practical, higher-riding Tesla Model Y electric SUV is priced from $65,400 to $91,400 before on-road costs in Australia.

The Tesla Model Y solidified its position as Australia's favourite new car amongst private buyers in 2023, with Tesla selling an impressive 28,769 units, easily outselling other premium electric and petrol/diesel mid-size SUV competitors like the Lexus NX, Audi Q5, and BMW X3 by a significant margin.

The 2024 Tesla Model Y is expected to receive several updates including a suite of hardware updates and the addition of quicksilver as a paint option.

Offered in three trim levels – Model Y RWD, Model Y Long Range, and Model Y Performance. The starting price for the 2024 Tesla Model Y is set at $65,400 before on-road costs, extending up to $91,400 for the Performance model before on-road costs.

Each variant is differentiated by the battery and drivetrain configuration as outlined in the below table.

Rear-Wheel Drive57.5 kWh LFPSingle motor RWD
Long Range75 kWh NMCDual motor AWD
Performance75 kWh NMCDual motor AWD w/ more power

The Model Y provides between 455km to 533km of claimed WLTP driving range depending on the variant. It is based on the underpinnings of the popular Model 3 sedan, but has a more practical interior, hatchback-style opening boot, and a higher seating position.

OFFER: $375 off a Tesla Model Y and 3 months free trial for Enhanced Autopilot
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White and blue Tesla Model Y White and blue Tesla Model Y

The Tesla electric SUV is eligible for select Australian incentives, including the fringe benefits tax (FBT) exemption for fleets and novated leases – but only applies to the base Model Y rear-wheel drive (RWD) and Long Range.

The Model Y is in a competitive segment, with rivals such as the Hyundai Ioniq 5, Kia EV6, Volvo XC40 Recharge, Mercedes-Benz EQB, and BMW iX1 electric cars.

Model Y Anticipated 2024 Updates and Juniper Refresh

2024 and Hardware 4.0 Update

While not officially confirmed, leaked imaes have suggested possible facelift updates for the Model Y, akin to slight interior refreshes seen in the Chinese market, including RGB ambient lighting and new textile dashboard trims. Performance and range improvements for several variants are hinted, but details remain to be revealed. These changes are not likely to be present in the 2024 Model Y but the Juniper mid-life refresh - akin to the Highland refresh of the Model 3.

The 2024 Tesla Model Y will likely be enhanced with what it refers to as "hardware 4.0" Autopilot computer and sensors, a suite of upgraded features for vehicles produced in China. These upgrades include new camera technology, designed to bolster the electric SUV’s self-driving potential.

Additionally, in a unique update, the Model Y is also set to debut a fresh paint option known as Quicksilver, exclusive to the locally manufactured version of the EV.

In an official Weibo post, Tesla announced, “The best-selling car on the planet, Model Y, has been upgraded with exclusive paint ‘Quick Silver,’ your own ‘superhero’. The new generation of autonomous driving hardware HW4.0 can see farther, see clearer, and calculate faster… Come and get in the car in the era of autonomous driving hardware 4.0.”

Tesla Model Y weibo hardware 4.0 post

These modifications were initially seen in the refreshed Model 3 that debuted in Australia in early September 2023, and have also been introduced in Model S and Model X vehicles in the United States.

The camera upgrades for the Model Y will feature enhanced video resolution for capture and recording, providing the potential to improve the vehicle’s existing Autopilot feature as well as its future self-driving capabilities.

JASON CLINTON ON XImage by - X/ Jason Clinton

The advanced computer system in the updated Model Y will process camera footage more rapidly, thus enhancing safety for both vehicle occupants and surrounding road users.

The cost of the new Quicksilver paint is set at $A2,500, aligning with the price point of other multicoat options like Stealth Gray and Ultra Red.

2024 Tesla Model Y in quicksilver driving on highway

While the Quicksilver finish was first introduced at Tesla’s European GigaBerlin facility in 2022, the midnight silver has remained the primary silver/grey selection for the Model Y produced in China for both domestic and international markets, including Australia.

The updates involving upgraded hardware and the Quicksilver paint option, which are currently being implemented in Shanghai-made vehicles, are anticipated to extend to Australian-market cars soon.

Juniper Refresh

Tesla is set to bring significant updates to the Model Y with its Project Juniper refresh. This update will follow the design cues and various upgrades in the Model 3 Highland, including an improved suspension and a quieter cabin. The most controversial change however will be the elimination of stalks from the Tesla dashboard design.

Updated Tesla Model 3 Highland cabin

In terms of production, Tesla is gearing up for mass production of the Project Juniper Model Y at Giga Shanghai, with an anticipated start in mid 2024. The production facility is currently undergoing upgrades geared towards accommodating the new model. As reported by Bloomberg, the first lineup of these refreshed Model Ys is expected to be produced at the second phase of Tesla's Shanghai gigafactory. The production will face a temporary pause during the Chinese New Year holiday for partial upgrades.

Model Y Specs: Performance, Range and Charging

Black Tesla Model Y Performance side view

All three Model Y electric SUV variants are differentiated by the drivetrain and battery pack.

The Model Y RWD has a single-motor setup and is most efficient, while Long Range and Performance models gain more powerful dual-motors for all-wheel drive and a larger battery to yield some extra driving range.

The key difference is the RWD's lithium-iron-phosphate (LFP) battery that can recharge at up to 170kW DC (with no charge limit), while the Long Range and Performance with a nickel-manganese-cobalt (NMC) pack peaks at up to 250kW DC speeds (with a 90 per cent charge limit recommendation).

➡️ View the Full Specs

Model Y Size and Dimensions

2023 tesla-model y rear passenger seats

The overall dimensions offer a spacious interior and impressive storage capabilities, with the Model Y measuring 4751mm in length, 2129mm in width, and a 2890mm wheelbase. Cargo space is substantial, boasting up to 2158 liters with the rear seats folded down.

Built on Tesla's second generation Model 3/Y dedicated EV platform which allows for greater interior space relative to the external footprint.

Overall, the Model Y is 31mm longer and 183mm taller than its Model 3 counterpart. The Model 3 is however 12mm wider.

➡️MORE: 2024 Tesla Model 3 vs. Model Y: Size and Spec comparison

Model Y Price, Models and Features

Red Tesla Model Y at Supercharging station

All three Model Y electric SUV variants share largely the same features as standard.

EDITOR'S NOTE: All prices listed below exclude Tesla’s $400 ordering fee, $1400 delivery charge, and the compulsory Luxury Car Tax (applicable on the Performance variant only).

Tesla Model Y RWDTesla Model Y RWD

Model Y RWD price: $65,400 before on-road costs

The Tesla Model Y is priced from $65,400 before on-road costs for the entry-level standard range RWD variant. Key features include a high-efficiency particulate air (HEPA) cabin filter, full panoramic fixed glass roof, and a high-tech minimalistic interior like its smaller Model 3 sedan twin on which it's based.

RWD features:

Battery57.5kWh usable LFP battery
Exterior19-inch Gemini covered alloy wheels
LED headlights, daytime running lights and taillights
Power folding, auto-dimming, heated wing mirrors
Matte black window surrounds, side indicators and flush door handles
Electric tailgate
InteriorFive-seat black vegan interior with wood decor
Electrically adjustable front seats
Heated front and rear seats
Double glazed front and rear windows
Dual-zone climate control
HEPA cabin air filter (Bioweapon Defence mode)
Fixed panoramic glass roof
Ambient footwell lights
Interior floor mats
Rear row seat folding release toggles
Technology15-inch central infotainment system and instruments with built-in Google Maps
Over-the-air software update capabilities
30-day Premium Connectivity trial
Dual Qi wireless charging phone pad
Four USB-C charging ports
128GB USB for dashcam and Sentry Mode recording
13-speaker premium audio
Tesla mobile app
Safety assistTesla Vision Basic Autopilot package
Auto emergency braking (AEB)
Lane departure warning and lane-centering assist
Blind-spot monitoring and camera view
Adaptive cruise control ‘Autopilot’
Reversing camera
Tesla Model Y Long RangeTesla Model Y Long Range

Model Y Long Range price: $78,400 before on-road costs

For $13,000 more, the Long Range gets a dual-motor all-wheel drive powertrain, plus LED fog lights.

Long Range adds:

Battery75kWh usable NMC battery
ExteriorLED front fog lights
Tesla Model Y PerformanceTesla Model Y Performance

Model Y Performance price: $91,400 before on-road costs

Another $13,000 for the flagship Performance gains additional features, such as the more powerful drivetrain tune, 21-inch Überturbine wheels with red-painted performance brake callipers, lowered suspension, and a carbon fibre rear spoiler.

Performance adds:

Exterior21-inch Überturbine alloy wheels
Performance brakes with red-painted callipers
Carbon fibre rear spoiler
Lowered suspension
InteriorAluminium pedals
TechnologyTrack mode
Increased top speed to 250km/h (up from 217km/h)
Red Tesla Model Y with Induction wheels charging at Supercharger

Tesla Model Y options

  • Standard paint – no cost: Pearl White Multi-Coat
  • Premium paint – $1500: Solid Black; Midnight Silver Metallic; Deep Blue Metallic
  • Red Multi-Coat paint – $2400
  • 20-inch Induction wheels (RWD and Long Range only) – $2400
  • Black and white interior – $1500
  • Tesla Mobile Connector trickle charging cable – $550
  • Tow Package – $1970
Tesla Model Y driving and touchscreenTesla Model Y driving and touchscreen

Enhanced Autopilot – $5100:

  • Navigate on Autopilot on highways (assists with lane changing and highway exits)
  • Automatic lane change assist
  • Automatic parking assist
  • Summon (remotely move forwards and backwards)
  • Smart Summon (remotely drives to owner)

‘Full Self-Driving Capability’ – $10,100:

  • Enhanced Autopilot features
  • Traffic light and stop sign control (slows down the vehicle while using adaptive cruise control)

Premium Connectivity – $9.99/month:

  • Satellite-view maps with live-traffic lines
  • Music and video app streaming
  • Remote exterior and interior camera monitoring (via mobile app)
  • Karaoke
  • Internet browser

Model Y Warranty and Servicing

Tesla Model Y in front of Model 3 in Tesla showroom

The Tesla Model Y is backed by a four-year/80,000km vehicle warranty and roadside assistance with a different battery warranty depending on the drivetrain variant.

For the base Model Y RWD, it has a eight-year/160,000km battery warranty, whereas the Model Y Long Range and Performance are covered for eight-years/192,000km. Tesla promises it’ll keep at least 70 per cent of its battery health over the coverage period.

It adopts a condition-based servicing scheme, meaning the vehicle will notify the owner when its sensors detect it’s time for check-up via the mobile app.

Tesla also recommends a range of specific routine maintenance tasks, including:

  • Cabin air filter – every two years
  • HEPA filter – every three years
  • Tyre rotation, balance and wheel alignment – every 10,000km/if the tread depth difference is 1.5mm or more
  • Brake fluid test – every two years
  • Air conditioning desiccant bag – replace every four years
  • Cleaning and lubricating brake callipers – every 12 months/20,000km (for cars in cold weather regions only)

Model Y Comparison

2024 Tesla Model Y in red rear view driving on highway with desert background

Tesla Model Y RWD spec comparison

The Tesla Model Y RWD compares well on paper with the similarly-priced Kia EV6, Hyundai Ioniq 5, and the Ford Mustang Mach-E electric SUVs. It has larger boot (although it's measured up to the roof, instead of the seats as per its rivals), faster 0-100km/h acceleration, and energy efficiency.

But, the EV6 and Ioniq 5 are capable of ultra-rapid charging speeds on a compatible public charging station thanks to its 800-volt class architecture.

Tesla Model Y Long Range spec comparison

Similarly, the Model Y Long Range is priced slightly lower than its AWD counterparts, while providing similar or comparable range and charging capabilities.

Tesla Model Y Performance spec comparison

Model Y Price History

Tesla Model Y panoramic glass roof interior view

NOTE: Prices exclude on-road costs, mandatory $400 ordering fee, $1400 delivery charge, and the Luxury Car Tax (applicable on Performance variant only).

Model/VariantFebruary 2023April 2023May 2023July 2023
Model Y RWD$69,300$68,900$69,300$65,400
Model Y Long RangeN/A$81,900$82,300$78,400
Model Y Performance$95,300$94,900$95,300$91,400

Model Y FAQs

About the author

Author Avatar

Danny Thai

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Danny is a consultant and entrepreneur working at the cutting edge of the electric vehicle and energy transition. He is passionate about educating and helping consumers make better decisions through data. He is the founder of zecar and is currently the EV Innovation Manager at Endeavour Energy.

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