EV giant Tesla Inc. TSLA is offering discounts of up to $7950 on the older version of its Model Y SUV, before it starts delivering the refreshed version of the vehicle in March.

What Happened: While the long-range rear-wheel drive variant is listed with as much as $3720 discount, the long-range all-wheel drive variant is listed with as much as $4950 discount, and the performance version with up to $7950 in discounts.

The offers come as the company is gearing up to start deliveries of its refreshed Model Y.

Tesla launched the refreshed version of its best-selling Model Y SUV in January. Deliveries of the vehicle are slated to start in March.

Why It Matters: The refreshed Model Y long-range all-wheel drive is now listed on Tesla’s website alongside the older models, with a starting price of $59,990, roughly 25% more expensive than its predecessor.

Model Y, launched in 2020, is Tesla's best-selling vehicle. The launch of the refreshed vehicle comes after the company reported its first decline in annual global deliveries in over a decade.

Tesla reported global deliveries of 1.79 million vehicles in 2024, down from full-year deliveries of 1.81 million in 2023.

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Photo courtesy: Tesla