Tesla announced a new event to be held on Tuesday, October 7, focusing on more affordable electric vehicles (EVs). Following the announcement, the company’s shares rose 2%.
In a nine-second teaser video shared on the social media platform X, a vehicle is seen in a dark environment with only its headlights on. Tesla confirmed the event date with the phrase “10/7” in a separate video.
Affordable Model Y is Coming
The low-cost Model Y version that Tesla plans to offer for sale in the US has been delayed compared to previous plans.
The company announced in June that it had completed the first production runs of the vehicle, but that sales would begin in the fourth quarter. The new model is expected to have approximately 20% lower production costs compared to the current Model Y. According to Reuters sources, production of this model could reach 250,000 units per year by 2026.Tax Incentives and Market Dynamics
Tesla reached record delivery figures before the $7,500 US tax incentive expired, valid until the end of September. However, analysts expect a temporary drop in sales once the stimulus ends.
According to Wall Street estimates, Tesla will deliver 1.85 million vehicles in 2025; more than 155,000 of these will be affordable models.
Challenges in New Models
The company has long been criticized for not introducing a new mass-market model. Sales are largely based on the refreshed versions of the Model 3 and Model Y.
The last major launch, the Cybertruck, failed to meet expectations. Tesla had to apply discounts of thousands of dollars to its existing stock. According to recall records from March, approximately 46,000 Cybertrucks have been produced since its launch in November 2023.
