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Elon Musk on Tesla's New 'Affordable' Electric Car: It's the Model Y
UNITED STATES, JUL 24 – Tesla aims to boost sales with a stripped-down Model Y priced potentially under $30,000, targeting broader customer affordability amid recent revenue and sales declines.
- Tesla announced in the second quarter of 2025 that it started production of a cheaper electric car variant based on the Model Y platform in June.
- Tesla canceled two lower-cost vehicle projects in early 2024 and shifted focus to producing new affordable models on existing Model 3/Y lines to address slowing demand.
- CEO Elon Musk confirmed the new affordable vehicle is essentially a de-contented Model Y aimed at expanding the market and incorporating advanced AI features.
- Tesla's second-quarter results showed a 12% revenue decline, its steepest in over a decade, while shares dropped over $30 post-earnings, pressuring the company to revive growth.
- Tesla plans to ramp full-scale production and begin deliveries of the cheaper Model Y in the fourth quarter of 2025, which could help stabilize revenue and broaden EV adoption.
17 Articles
17 Articles
Elon Musk confirmed the arrival of a cheaper version of the Tesla Model Y on a conference call with investors.
Don't expect anything fancy from the 'new' cheap Tesla
Tesla Model Y 'Juniper' | TeslaTesla CEO Elon Musk dropped a line that all but confirms the much-rumored cheap Tesla is set to reach customers by the end of the year. He also confirmed, however, that the upcoming entry-level EV is just a less well-equipped Model Y. Elon Musk confirmed the upcoming cheap Tesla is coming– but ‘it’s just a Model Y’ CEO Elon Musk recently confirmed that the cheap Tesla is on the way, with sales set to start by the …
Tesla confirms its lightweight Model Y for 2025: Elon Musk is banking on simplification to cut prices. LFP battery, basic finishes and optimized production are on the program for this "cheaper" version. [Read more] Join us from 5 to 7 p.m., every other Wednesday, for the UNLOCK show produced by Frandroid and Numerama! Tech news, interviews, tips and analyses... We'll meet you live on Twitch or on YouTube!
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