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Tesla, Model Y
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Tesla has announced that it will launch a cheaper Model Y to boost sales following its dismal quarterly sales and revenue decline.In January earlier this year, Elon Musk had said the carmaker would launch
The high-selling Model Y is crucial for both Elon Musk and Tesla, but a half-hearted reskin of the car hasn’t reversed the company’s sales woes. Would a complete overhaul have been a better bet?
In 2020, Tesla controlled nearly 80% of the U.S. market, based on data from Experian. By 2022, that was down to 65.4%, followed by 55% in 2023. This year, per Cox Automotive, that share continues to decline, hovering around 45% as of July 11.
Gary Black believes Tesla's affordable Model Y trim level offers no 'incremental volume' and may cannibalize higher-priced models.
Tesla is poised to launch the long-wheelbase variant of the Model Y in the US later this year, finally nailing the coffin for the obsolete Model X
Though the criteria for the Insurance Institute for Highway Safety’s highest honor are more strict, both the Tesla Model Y and Volvo XC90 Plug-in Hybrid SUVs have earned the agency’s highest honor, Top Safety Pick+.
Tesla's long-anticipated affordable model is not the scrapped $25,000 Model 2, but a cheaper version of the Model Y, revealed in their latest earnings call.
Tesla says it has started production of a more affordable model and expects volume production in the second half of the year. The company reported the steepest decline in quarterly revenue in more than a decade,
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