Tesla shares fell more than 2% in early trading on Friday to $338 even as the electric carmaker unveiled the refreshed Performance version of its best-selling Model Y in Europe.
The new variant, starting at £61,990 ($83,560) in the UK, features updated front and rear fascia, a carbon spoiler to improve aerodynamics, and optimized wheels, Tesla said.
Deliveries in Europe are scheduled to begin in September, though the company has not announced a launch timeline for the US or other markets.
The Model Y Performance offers an estimated 308 miles of range under the EPA cycle — just 1% less than the Long Range version — and is equipped with Tesla’s highest-resolution infotainment screen to date: a 16-inch QHD touchscreen, up from 15.4 inches in other trims.
Tesla said the vehicle accelerates from 0 to 60 mph in 3.3 seconds, an improvement from 3.5 seconds in the prior iteration, and comes with new drive modes designed for high-speed performance.
A staggered wheel and tire setup is also included to enhance grip and steering. The first models arrived at select Tesla stores in Europe on Friday.
Sales across the EU, the European Free Trade Association and the UK fell 40% in July from a year earlier, to 8,837 vehicles, according to the European Automobile Manufacturers’ Association.
That compares with 14,769 sales in the same month last year when the company was still selling the previous iteration of the Model Y.
Production ramp up of the new version started in early 2025 at the GigaBerlin plant .
On Thursday, Tesla said it would begin rolling out its Full Self-Driving (Supervised) driver-assistance system in Australia and New Zealand.
The phased introduction will start with Model 3 and Model Y vehicles equipped with the company’s latest Hardware 4 system.
