The Model Y will be a cheaper, scaled down version of the company's existing Model X SUV. In a shareholder's letter from Q4 of 2018, Musk says the company would be gearing up for Model Y production and would reach volume production "by the end of 2020, most likely at Gigafactory 1".
The stock's decline on Tuesday, however, may have had more to do with a few analysts' reaction to the recent run of Tesla news, including the company's unexpected partial reversal of previously announced price cuts and store closures.
Electric vehicle maker Tesla Inc. had evaded its plans of closing all of its USA stores, a blog post on Tesla's official website revealed on Monday, the 11th of March 2019, and the post also added that instead of shuttering all of their United States stores, the Tesla Inc.
Tesla will have to lay its path ahead cautiously, and remove the hurdles it faced with Model 3. Hence, we expect Tesla Model Y to come out at $38,500 for the basic variant. Hence, it is expected to be bigger -and priced in higher than the Model 3, which is the cheapest auto in the Tesla series.
Labour leader Corbyn demands general election after Theresa May’s Brexit defeat
But Tory former minister Nick Boles said this would amount to a no-deal exit and the European Union would not agree to it. Labour MP Jess Phillips said she would support a 21-month extension of the Article 50 oto prolong the withdrawal process.
On February 28, Tesla lowered the prices of its vehicles and Autopilot, while shifting some Autopilot features into an upgrade package. The claim that Tesla made at the launch of model 3 (production rate of 5000 vehicle per week in five months time) took about 12 months plus. But its announcement also mentioned the Model Y, which shares the Model 3 platform.
"How else can you view it except to see it as a remarkable example of lack of foresight or planning?"
Musk also added that the company will be shutting some of its stores and laying off the workforce, which allows Tesla to decrease the price of the auto and save a lot of money. Pro-Tesla blog electrek called the business model changes a "chaotic situation", saying it was "either turning into what feels like an extremely poorly managed, haphazard transition or it is intentionally made that way to push out employees like some are suspecting". Musk added that the base price does not factor in gas savings and tax incentives which could further lessen the cost of owning a Tesla and that's been the goal right from the beginning. Musk also said that Tesla was still closing some stores, despite whipsawing reports of closures, freezes, and stores remaining open, over the last two weeks.