Is the 2025 Tesla Model Y worth $46,490?

Yes, it’s better than before, but so are its competitors.

Feb 17, 2025 - 07:43

Is the 2025 Tesla Model Y worth $46,490?

If any Tesla has become ubiquitous, it’s the Model Y, the company’s most affordable SUV. Boasting a spacious cabin and enough range to make it an easy choice as a daily driver, the Model Y benefits from the company’s constant over-the-air updates aimed at making the car better than when you first bought it.

The company has also been a leader in developing autonomous driving. While its Full Self Driving doesn’t quite deliver what it states just yet, it’s still among the best available.

Given the Model Y’s spacious cabin and good range, it’s little wonder that it remains America’s most popular EV. However, 2024 brought a notable decline in sales, which might stop or even reverse with the arrival of a refreshed Model Y.

More range than before

With the Model Y’s dual-motors providing all-wheel drive, we expect the new Model Y to be just as sprightly as before.

For 2025, the redesigned Model Y will launch in Long Range AWD trim, providing an EPA-rated 327 miles of range. That’s still quite good, but not the standout it once was. Many competitors have come close to offering the same range in recent years, including the Chevrolet Blazer (320 miles), Hyundai Ioniq 5 (318 miles), and Kia EV6 (310 miles).

The redesign updates its aging appearance

The Model Y was overdue for an update, and its revised front lighting features a light bar that runs the width of the car. An updated hood and revised rear lighting also drastically modernize its appearance.

Inside, buyers will be treated to better interior finishes, with heated and ventilated front seats and heated power-folding rear seats. Rear seat occupants get an 8-inch touchscreen to keep themselves amused, while a hands-free power liftgate makes accessing cargo easy.

There’s more competition than ever

The revised Model Y faces a growing list of competitors that are every bit as quick, if not quicker. They also offer fresh styling, something Tesla is only half-heartedly attempting.

But given the number of EVs on the market, including the Hyundai Ioniq 5, Genesis GV60, Mustang Mach-E, Chevrolet Blazer EV, Cadillac Lyriq, Honda Prologue, and Acura ZDX, among others, cut-rate financing and generous incentives are sure to undercut Tesla’s pricing. And none carry the stigma of profiting Elon Musk.

No longer the value it once was

The Model Y is far from the cheapest EV you can buy. While there are vehicles that undercut the Model Y’s price, they also fall short on range. Still, the Model Y Launch Edition costs upward of $60,000, opening it up to a range of alternatives. At least its revised suspension promises to deliver a better combination of a sporting yet luxurious driving experience.

2025 Hyundai Ioniq 5 has 318 miles of range and starts at $42,500.
Hyundai

Good luck getting on a Tesla charger

The North American Charging System (NACS), the port used by Tesla Superchargers, has been recently designated the official U.S. charging standard for electric vehicles. While it was initially developed by Tesla for its vehicles in 2012, it has been open for use by other automakers since 2022, many of which are slowly switching from the Combined Charging System (CCS).

Tesla vehicles charge at a Tesla Supercharger station in Santa Monica, California, US, on Friday, Jan. 13, 2023.
Eric Thayer/Bloomberg via Getty Images

This means finding an available NACS charger will become increasingly difficult for your Tesla going forward, a situation further exacerbated by the Trump Administration’s cuts in funding for a national network of car chargers.

Musk's divisive politics

Tesla's sales have been slumping in the United Kingdom, France, Sweden, Norway, and Netherlands as CEO Elon Musk is vocal in his support of far-right parties in Britain and Germany. Demand even dropped in California, where American EV sales are strongest.

Musk is clearly angering his own customers. Tesla owners are now plastering anti-Elon Musk bumper stickers on their cars, including "I Bought This Before We Knew Elon Was Crazy" and “Shut up, Elon Musk.”

Final thoughts

While Tesla remains the largest American manufacturer of EVs, increasing competition with new designs and similar ranges will no doubt eat into Tesla’s dominance. Throw in Elon Musk’s distraction with the Trump Administration and the prospects of Tesla halting its slowly eroding market share, and it’s hard to see Tesla’s position in the market improving.

And with a large number of automakers facing slower sales of EVs, incentives are likely to make their new offerings far more appealing than a design that’s already a half-decade old.

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