Tesla Model Y crossover to be unveiled in less than 2 weeks: Elon Musk
Elon Musk said Sunday that Tesla will unveil its Model Y crossover in less than two weeks, as questions about store closures, employee layoffs and demand in the wake of waning U.S. federal tax credits threaten the company’s growth narrative.
But the new model’s debut is prompting concerns about a potential cannibalization of sales at a time when investors are already worried about demand for the company’s cars. “We think the SUV/CUV market is larger than sedan and growing more quickly in the United States, and we think the introduction of a more competitively-price[d] vehicle could drive higher sales and share gain,” Kallo wrote in a note.
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