Tesla Model Y range estimate reduced by 6%, becoming more realistic
Tesla has updated its Model Y EPA range estimates, lowering the range of its Long Range and Performance models by 6% in its online configurator.
Specifically, the Model Y Long Range is down to 310 miles from 330, and the Model Y Performance is down to 285 miles from 303.
The cheapest Model Y, the Model Y Rear-Wheel Drive, which was introduced in the US in October, was not affected by the changes and retains its 260-mile range rating.
All three models have had no change in pricing since before the changes. The only changes we can see are the range estimates (and the two new colors).
We don’t know why Tesla has changed its range estimates, but it could have something to do with a change in the way Tesla does its EPA testing.
It has long been known that Tesla “vastly” overstates its range on its cars. While it is possible to meet EPA estimates if you drive efficiently (and I often do, or get close), Tesla tends to do disproportionately worse in real-world range tests than all other manufacturers, on a level playing field.
EPA tests allows some amount of discretion on the manufacturers’ part to raise or lower their range estimates by employing additional tests and applying an “adjustment factor.” Some manufacturers even apply a voluntary reduction to lower their range estimates, so that drivers are more likely to exceed estimates than come up short.
You can see Tesla’s overstatement for yourself: in a Tesla, charge your car up to 300 miles of range, then tell your car to navigate to somewhere that’s, say, 260 miles away. Your car will route you through a Supercharger, because Tesla’s real range estimate knows that its stated ranges are unrealistic.
So these ~6% changes won’t quite make up for all of Tesla’s range overstatement, but will bring the numbers closer to a realistic point.
However, this is only for two trims of the Model Y. We don’t know if Tesla’s other vehicles will end up having similar range estimate changes soon, although they all have suffered from the same range overstatement issue. So we would hope/expect to see corrections for other Tesla vehicles soon as well.
Electrek’s Take
At the end of the day, these range changes probably don’t really matter much. We don’t know what changed to get us here (and the company does not have a communications department to clarify changes like these when they happen), but Tesla tends to raise and lower the ranges of its cars randomly without any apparent physical changes to the battery, so really, nothing probably changed on the cars themselves.
Range is a fuzzy number anyway, meant to give a general idea of how far you can go, but can’t possibly take into account every situation in a single number. The phrase “Your Mileage May Vary” isn’t just informal slang – it originally applied to vehicle mileage, to describe how people will get different MPG in different situations. So, too, with range.
And frankly, I’m pretty tired of everyone treating range as the end-all-be-all of EV specs anyway. So while I dislike Tesla’s constant overstatement of range, making people think they need more range than they actually do and leading to ever-increasing range numbers beyond what’s realistically necessary (and leading to fewer larger, heavier, more expensive EVs in a constrained battery production landscape), I kind of do like when it randomly changes the range of its cars, showing everyone that the numbers are all made up anyway and you probably shouldn’t take them too seriously.
What’s more important is: learning to drive efficiently (if you need to go farther, slow down a bit), and ensuring that there are enough DC fast charge stations out there to give people a boost when they need it. If we all focus more on those things, then range will be something that we rarely need to think about anyway.
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Is Elon Musk using the missing $1.4B to fund anti-Tesla protests as part of a massive false flag operation that will give him control of both the police and the courts? There’s absolutely ZERO evidence to support that idea (plus: I just made it up), but it’s 2025 and that means anything goes on today’s bats**t episode of Quick Charge!
If there’s one thing narcissists love it’s playing victim, and the guy who asked everyone at Trump’s inauguration if they’s seen Kyle and spent the last decade stacking billions by failing to deliver on a mission to mars, an all-electric roadster, an underground super-speedway, and a self-driving car seems to think it’s someone else’s fault that people don’t like him. We talk through the state of that debacle along with news from two credible car companies, and I predict Volvo will have the first mainstream L3 car in America – enjoy!
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Trump’s US Commerce Secretary, Howard Lutnick, who indirectly owns Tesla (TSLA) stocks through his firm, has publicly recommended buying Tesla stocks today.
This is likely the first time that a sitting US Commerce Secretary publicly recommends to buy a specific stock.
The circumstances in which this first is happening are genuinely astonishing.
Lutnick is known for his multi-billion-dollar stake and long-time leadership at the investment bank Cantor Fitzgerald.
Starting in 2022, Cantor Fitzgerald began to buy Tesla stocks and significantly increased its investment in the automaker in 2024 during a bull run:
After Trump won the election last year with the help of a $250 million political donation from Elon Musk, the Tesla CEO started to recommend Lutnick for the significant role of Secretary of the Treasury. He tweeted:
My view fwiw is that Bessent is a business-as-usual choice, whereas Howard Lutnick will actually enact change. Business-as-usual is driving America bankrupt, so we need change one way or another,”
Trump ended up going for Bessent, but Lutnick still managed to land the role of Secretary of Commerce – with the help of Musk’s push.
After being nominated by Trump, Lutnick said that he would be divesting from his holdings, which are mainly linked to Cantor Fitzgerald, within 90 days.
The 90 days are not up yet, but there is no update on whether he has started divesting yet.
Today, he went on Fox News and recommended viewers buy Tesla stocks:
“I think if you want to learn something on this show tonight, buy Tesla. It’s unbelievable that this guy’s stock is this cheap. It’ll never be this cheap again,”
Here’s the video:
The blatant stock pump comes after Tesla’s stock lost more than 40% of its value so far this year.
Musk uses 238 million Tesla shares worth over $55 billion as collateral for personal loans. If Tesla’s stock goes too low, he could potentially be forced to sell his shares to cover the debt.
Furthermore, on the analyst side, Cantor Fitzgerald just upgraded Tesla’s stock to a buy earlier this week – raising their price target to $425 a share. Tesla’s stock closed at $235.86 today.
Howard Lutnick’s son, Brandon, is now in charge of Cantor Fitzgerald as Chairman.
Here’s a summary of Cantor Fitzgerald’s Tesla holdings:
- Early 2022: The firm held a very small position (only ~8,400 Tesla shares in Q1 2022) but rapidly increased to about 297,000 shares by Q3 2022 (worth ~$79 million at the time). This large buy-in during mid-2022 marked a significant ramp-up in their Tesla exposure.
- Late 2022: By the end of 2022, Cantor dramatically cut back its stake – holding roughly 72,000 shares in Q4 2022. This reduction from nearly 300k shares the prior quarter coincided with a steep drop in Tesla’s stock price in late 2022 (shares fell by roughly 50% during Q4 2022).
- 2023: Throughout 2023, Cantor Fitzgerald kept a modest Tesla position, fluctuating in the tens of thousands of shares. For example, they reported ~44,000 shares in Q1 2023, increased to 91,000 by Q2 2023, then adjusted to 56,000 in Q3 2023 and 83,000 by Q4 2023.
- These moves suggest active trading around Tesla’s short-term moves, with no huge long-only stake during 2023. Notably, it appears Cantor completely exited Tesla in early 2024 – Tesla was not listed in their Q1–Q2 2024 13F filings, implying they sold off the remaining shares during that period (when Tesla’s price rallied to local highs).
- Re-entry in 2024: In the second half of 2024, Cantor Fitzgerald made a bold re-entry into Tesla. Their holdings surged to about 1.2 million shares in Q3 2024 (valued ~$307 million as of September 30, 2024). This coincided with a mid-2024 pullback in Tesla’s stock price, suggesting Cantor bought the dip. By the end of 2024, they trimmed the position down to ~740,000 shares (from 1.2M), likely taking profits after Tesla’s price rallied late in the year.
Electrek’s Take
I mean, wow. This is something else.
The fact alone that a US secretary would recommend buying a specific stock is despicable, but it’s even more insane when it is the stock behind the fortune of Elon Musk, who has a relationship with Lutnick.
Lutnick’s Cantor invests in Tesla -> Musk invests in Trump -> Trump appoints Lutnick at Musk’s recommendation -> Tesla’s stock crash –> Trump recommends buying Tesla cars –> Lutnicks recommends buying Tesla stocks.
I’m no lawyer so I’m not going to claim whether this is legal or not, but it’s certainly not ethical.
Tesla must be really struggling if that’s what they are doing now: using US officials to promote Tesla’s stocks.
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