Tesla falls as report says it’s delaying low-cost Model Y expected in first half of 2025 for “at least several months”
We’re going to have to wait some more for Tesla’s long-awaited lower-cost Model Y, Reuters reports, citing three sources with knowledge of the matter. The stripped-down version will be delayed “at least several months,” they said.
Shares of the company fell 5.2% in trading just after the opening bell.
After scrapping a new low-cost model last year — apparently in exchange for the company’s driverless Cybercab — Tesla hedged and reiterated earlier this year it would offer lower-cost versions of existing models in the “first half of 2025.” The delay of course is very typical of Tesla, whose timelines are frequently wildly wrong.
Tesla now aims to produce 250,000 of the cheaper Model Ys in US in 2026, the sources report. For reference, it sold about 372,000 of the more expensive Model Ys in the US last year, according to Cox Automotive.
We’ll see!
After scrapping a new low-cost model last year — apparently in exchange for the company’s driverless Cybercab — Tesla hedged and reiterated earlier this year it would offer lower-cost versions of existing models in the “first half of 2025.” The delay of course is very typical of Tesla, whose timelines are frequently wildly wrong.
Tesla now aims to produce 250,000 of the cheaper Model Ys in US in 2026, the sources report. For reference, it sold about 372,000 of the more expensive Model Ys in the US last year, according to Cox Automotive.
We’ll see!
