Shares of Tesla Inc fell about 4 percent on Friday, as investors wondered if its unveiling of an electric sports utility vehicle would add to pressure on cash flow, while analysts anxious the carmaker was not addressing slowing demand for other models.
Musk has announced yet another product way too early, the new vehicle that is a mini SUV will ship in fall 2020 according to Elon Standard time, which in the real world realistically means 2021.
It has seven seats and features a panoramic glass roof and a 15-inch (38-centimeter) touchscreen interface for accessing all the car's controls. While that vehicle won't be available until spring 2021, the long-range real-wheel drive ($47,000), dual-motor all-wheel drive ($51,000), and performance ($60,000) models are due in fall 2020.
CEO and founder Elon Musk believes that demand for the Model Y could outstrip the Model 3, which has proven itself by a very long yard the most popular EV of 2018 and became the USA's best-seller in its segment late a year ago.
The Tesla Model Y will be compatible with Tesla's gen-three Supercharger network, meaning speedy charging to keep you on the road. Finally, there's the Model Y Performance ($60,000) that keeps the same 280-mile range, but will hit 60 miles per hour from a standstill in just 3.5 seconds.
Still, the Model Y, like all Tesla models, has already seen pre-production delays. The problem with Model Y as an "investor car" (rather than a "fan car" or a "brand-builder") is that Tesla doesn't seem able to execute such a auto in a way that will actually benefit investors. Autopilot and Full Self-Driving Capability add $3,000 and $5,000 to the tally. The increased commonality should make the Model Y easier to integrate into current assembly processes and make it somewhat less expensive to produce. "This timing likely implies the company is postponing the costly Model Y ramp in 2019 to conserve cash", Munster wrote in a note.
Lori Loughlin Surrenders to Cops After Indictment for College Bribery Scandal
According to the AP news agency, the documents say a co-operating witness met with Huffman and husband Macy at their home in LA. Basically rich people paid him a ton to bribe and defraud their kids into colleges they couldn't otherwise get accepted to.
Musk announced that pre-orders for the vehicle are open right now.
The standard model will have a range of 230 miles per charge. But given the parts commonality with the Model 3, maybe the company will for once be able to stay on track.
Considering that the market is going nuts for crossovers, the Model Y is Tesla's smartest product-planning move so far.
Elon Musk tweeted from the launch event: "Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more and have slightly less range for same battery".
Tesla's targeted volume production date of late 2020 for the Model Y would put it behind electric SUVs from Audi, Mercedes-Benz and BMW. This time it was a sport-utility vehicle dubbed the Model Y. More importantly, it gives us a good glimpse of what Tesla expects to have completed less than a year after its January 6 ground breaking event.