Categories: Business & Economy

Tesla expected to reveal the Y model at a lower cost in Push to Regnite Sales

Article 1 of 2 Model cars are represented during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul / Pool via Reuters

(1/2)The cars of the model are represented there during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul / Pool via Reuters Buy Licensing RightsOpen a new tab

October 7 (Reuters) – Tesla (tsla.o)Open a new tab should unveil on Tuesday a more affordable version of its best -selling model SUV, while the manufacturer of electric vehicles seeks to reverse the drop in sales and to decline the market share in the middle of the upward global competition.

Elon Musk chief executive for years has promised mass market vehicles, although last year, he canceled plans to build a brand new EV of $ 25,000, Reuters reported for the first time. The expected car this week is an “affordable” vehicle based on current manufacturing and design platforms.

Tesla published two clips on X during the weekend, triggering excitement among Tesla fans. A video shows that the headlights watching darkness and another watch which looks like a wheel that runs for a few seconds, followed by “10/7”, the American format for the date of October 7.

Neither Tesla nor the influencers indicated that an event in person was in preparation, unlike the previous launches of Tesla. However, analysts, investors and fans expect the company to make a kind of ad.

The main questions include the price of the car, the operating range and the efforts to delete costs. At the end of last year, Musk said the vehicle would be at the price of the “key threshold” of $ 30,000, including American tax credits.

In the United States, prices actually increased by $ 7,500 at the end of last month, at the end of the credit. This has helped quarterly sales to a record, but expectations are that they slow down for the rest of the year, unless the affordable car is at the rescue.

“The desire to buy the car is very high. (It is) just (that) people do not have enough money in the bank account to buy it,” said Musk in July when Tesla’s second trimester results. “So the more we can make the car, the better.”

Musk initially promised that the production of the vehicle would start by the end of June. But Tesla only did what he called the “first constructions” of the car, he said in July, adding that it would be available for customers in the last three months of the year.

Tesla has already been faced with the slowdown in sales of its aging range as competition has grown rapidly, especially in China and Europe, where Musk’s far -right political opinions have also undermined the brand’s loyalty.

Earlier this year, Tesla launched an updated version of the Y model with improvements including new light bars and a rear touch screen.

Musk pivoted the business towards artificial intelligence, focusing on robotaxis and humanoid robots. Tesla said it would launch more affordable vehicles in its range but has not provided details. Sources have told Reuters that the manufacturer EV also planned to deploy a stripped version of its medium size sedan of model 3.

Affordable cars will also be essential for Tesla delivering 20 million vehicles during the next decade – one of the many operational and evaluation stages set by the company’s board of directors as part of its wage package of $ 1 billion offered for Musk.

Report by Abhirup Roy to San Francisco; Edition by Peter Henderson and Richard Chang

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Abhirup Roy is an American automotive correspondent based in San Francisco, covering Tesla and the wider industry of electric and autonomous vehicles. He previously reported India on global companies, capital market regulations, crime in white collar and business disputes. Contact it to (415) 941-8665 or connect safely via a signal on Abhiruproy.10

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