Tesla’s next event will feature the launch of a more inexpensive electric automobile
Tesla has scheduled an event for October 7, during which investors and analysts expect the unveiling of a more affordable model that could maintain sales momentum. This statement spurred shares of the electric car company, led by Elon Musk, to surge 3% in early trade Monday.
Tesla had already postponed the release of a lower-cost Model Y in the US. In June, it announced that it had completed the «first versions» of the car, but that sales would begin in the fourth quarter. With a slower-than-expected increase in manufacturing.
The economy version is expected to be around 20% less expensive to construct than the revised Model Y. With production reaching around 250,000 units per year in the United States by 2026.
“Tesla is hinting at something big, while a series of posts on X have fans eagerly awaiting what appears to be the launch of a more affordable Model Y tomorrow,” said Matt Britzman. Senior equity analyst at Hargreaves Lansdown, who personally owns shares in the company.
“The price will be the real indicator, as it will offer clues as to how far Tesla has managed to reduce costs and how much new demand it could generate.”
The statement follows Tesla’s record third-quarter deliveries, which were driven by a spike in electric vehicle purchases before to the expiration of the $7,500 US tax credit on September 30. Analysts estimate sales to fall in the following months without that inducement.
According to Visible Alpha, Wall Street expects Tesla sales to climb to 1.85 million vehicles next year. With the new economy model accounting for around 155,610 units in 2026.
