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Tesla launches limited-time 0.99% APR loan rate on U.S. Model Y orders

Credit: Tesla

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Tesla has launched its latest buying incentive for the Model Y, this time offering a special, super-low interest rate for those who purchase the SUV by the end of this month.

On Friday night, Tesla launched the promotional financing on its website for the Model Y, offering a 0.99 percent APR interest rate for buyers who finance the electric vehicle (EV) on an order placed by May 31. The promotional financing can be used on loan terms ranging from 36 to 72 months, and it’s available on all three Model Y trim options.

Credit: Tesla

The recently launched base-level Model Y Long Range RWD currently starts at $44,990 before federal and local tax credits, while the Long Range AWD and the Performance trims start at $47,990 and $51,490, respectively.

The move comes as high interest rates have been a headwind for the auto industry over the past few years, and as electric vehicle (EV) sales have been slowing this year. Tesla has also launched a number of buying incentives in recent months, and especially leading up to the end of Q1.

In February, Tesla began offering promotional pricing on the Model Y with a $1,000 discount through the end of the month in North America. After that deal went away in March, Tesla announced that it would be increasing the price of all Model Y trims by an additional $1,000 on April 1, with a similar price increase reaching European markets.

Last year, the Model Y became the world’s best-selling vehicle, according to data from JATO Dynamics. Tesla has highlighted the achievement in some recent advertising efforts, with a Model Y encased in glass recently being towed around New York City by a Cybertruck, with the feat being written on the side of the case.

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Tesla is also preparing to launch a Model Y refresh, similar to the one that it gave the Model 3 this and last year. Despite this, Tesla said it wouldn’t be launching a Model Y refresh in North America this year in internal communications.

Tesla’s Model Y comprised over a third of all Q1 EV sales in the U.S.

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Elon Musk’s Boring Company begins Tesla FSD testing in Las Vegas tunnels

The update was shared by Las Vegas Convention and Visitors Authority (LVCVA) CEO Steve Hill.

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Credit: The Boring Company/X

The Boring Company has started testing Tesla’s Full Self-Driving (Supervised) system in its Las Vegas tunnels. 

The update was shared by Las Vegas Convention and Visitors Authority (LVCVA) CEO Steve Hill in a comment to Fortune.

Controlled FSD testing

In his comments, Hill noted that Tesla’s FSD tests in the Boring Company’s underground tunnels in Las Vegas have been going on for months. However, the full-self driving Teslas have reportedly not been carrying passengers during the tests. Interestingly enough, Hill noted that the FSD-driven vehicles have not had any incidents in the Boring Company tunnels yet, though safety drivers have been required to intervene “periodically.”

Hill further noted that the self-driving Teslas have found some spots that seem quite difficult in the underground tunnels system. The LVCVA CEO added that the rock walls of the Boring Company tunnels and their colorful lighting have created some “interesting but odd lighting” for FSD. That being said, Hill noted that the FSD tests are ongoing, though the LVCVA will likely be a consultant before the self-driving vehicles’ safety drivers are removed. 

The executive, however, noted that it will only be a matter of time before the Teslas in Las Vegas’ Boring Company tunnels are operating without a driver. “Sooner or later, this is going to be autonomous,” Hill said.

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Vegas Loop updates

The Boring Company’s underground transit system has been operating beneath the Las Vegas Convention Center for about four years. While the network is slated for expansion across more of the city, it currently connects the convention grounds with a handful of nearby hotels. Updates from the Boring Company’s official social media account on X suggests that tunneling is underway across other stops in Las Vegas.

As per the Boring Company on its official website, the greater Vegas Loop, when completed, will have 104 stations across 68 miles of tunnels. This should allow the underground system to serve an estimated 90,000 passengers per hour. It will also be able to connect key locations across the city, such as Harry Reid International Airport, Allegiant Stadium, and downtown.

While the Vegas Loop is nowhere near complete, Hill noted that the system is already well appreciated by residents and visitors. As per the LVCVA CEO, the underground transport system is the “highest rated feature we have” at the Convention Center.  “People love it,” he said, adding that the only reason the tunnels are not coming faster is due to holdups with permits. “We’re holding them back. They’re not holding us back,” he stated.

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Tesla appears to have teased a long-awaited Model Y trim for a Friday launch

The company posted it with its Europe & Middle East account, and it appears to be a Model Y Performance, which has been spotted testing at the famed Nurburgring in Germany.

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Credit: Tesla

Tesla appears to have teased a long-awaited Model Y trim for a launch on Friday.

The company posted it with its Europe & Middle East account, and it appears to be a Model Y Performance, which has been spotted testing at the famed Nurburgring in Germany.

The Model Y Performance became a big-time hit after it packed the family-style interior with lightning-fast acceleration, speed, and handling.

As Tesla transitioned the Model Y into the updated “Juniper” design, the company took its time to create an even better vehicle with the new Performance configuration.

It has surely taken its time, but the vehicle appears to have undergone some exterior changes to enhance aerodynamics, handling, and overall performance.

We recently went into what was different about the test units spotted at Nurburgring in an article, but we’ll also list them here:

  • New 21″ wheels
  • All black headliner, a big change that was included in the Model Y L, the first time a Model Y has had that option
  • Updated brakes
  • Bucket seats that appear to be similar to the new Model Y L in China
  • New Carbon Fiber Spoiler
  • Performance Badging
  • Changes to both the front and rear bumper
  • Suspension with Adaptive Dampers

Tesla Model Y Performance zips around Nurburgring with new features

It does not seem like there’s much else it could be, but it is important to note that Tesla has been developing a handful of affordable models. There is a possibility that Tesla could launch one of these on Friday, but it seems unlikely.

The affordable models will likely be coming to the United States or China before they would in Europe.

They would be developed at Gigafactory Texas or Gigafactory Shanghai. The company stated in its Q2 Earnings Shareholder Deck that it had continued to expand its vehicle offerings and successfully manufactured the first builds of a more affordable model in June.

Volume production is planned for the second half of 2025.

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SpaceX Starship Flight 10 was so successful, it’s breaking the anti-Musk narrative

That’s all the proof one could need about the undeniable success of Starship Flight 10.

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Credit: Elon Musk/X

Starship Flight 10 was a huge success for SpaceX. When both the Super Heavy booster and the Starship Upper Stage successfully landed on their designated splashdown zones, the space community was celebrating.

The largest and most powerful rocket in the world had successfully completed its tenth test flight. And this time around, there were no rapid unscheduled disassemblies during the mission.

As per SpaceX in a statement following Flight 10, “every major objective was met, providing critical data to inform designs of the next generation Starship and Super Heavy.” The private space enterprise also stated that Flight 10 provided valuable data by stressing the limits of Starship’s capabilities.

With all of Flight 10’s mission objectives met, one would think that it would be pretty easy to cover the story of Starship’s successful tenth test flight. But that’s where one would be wrong, because Elon Musk companies, whether it be Tesla or SpaceX or xAI, tend to attract negative slant from mainstream media outlets.

This was in full force with Starship Flight 10’s coverage. Take the BBC’s Facebook post about the fight test, which read “Elon Musk’s giant rocket, earmarked for use in a 2027 mission to the Moon, has had multiple catastrophic failures in previous launches.” CNN was more direct with its slant, writing “SpaceX’s troubled Starship prototype pulls off successful flight after months of explosive mishaps” on its headline. 

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While some media outlets evidently adopted a negative slant towards Starship’s Flight 10 results, several other media sources actually published surprisingly positive articles about the successful test flight. The most notable of which is arguably the New York Times, which featured a headline that read “SpaceX’s Giant Mars Rocket Completes Nearly Flawless Test Flight.” Fox News also ran with a notably positive headline that read “SpaceX succeeds at third Starship test flight attempt after multiple scrubs.”

Having covered Elon Musk-related companies for the better part of a decade now, I have learned that mainstream coverage of any of his companies tends to be sprinkled with varying degrees of negative slant. The reasons behind this may never be fully explained, but it is just the way things are. This is why, when milestones such as Starship’s Flight 10 actually happen and mainstream media coverage becomes somewhat objective, I can’t help but be amazed. 

After all, it takes one heck of a company led by one heck of a leader to force objectivity on an entity that has proven subjective over the years. And that, if any, is all the proof one could need about the undeniable success of Starship Flight 10.

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