Tesla will not introduce a redesigned Model Y this year

Chief executive Elon Musk said this in a statement posted on Social Media X on Tuesday.

Musk said Tesla is constantly improving its vehicles, "so even a 6-month-old new car will be slightly better."

Tesla has been slow to refresh its old lineup as higher interest rates have dampened consumer appetite for big-ticket products

The world’s largest car market, is producing cheaper cars.

For the first time in nearly four years, the automaker reduced global shipments in the first quarter.

Last year, Reuters pronounced that Tesla became readying a production revamp of Model Y with a target of starting manufacturing in 2024.

All previous information are , Referred to Reuters