Tesla is stirring up excitement, teasing a mysterious event for October 7th, a move that has investors and fans buzzing about the possible reveal of a more affordable car.
The Elon Musk-led company posted a short, nine-second video on its social media platform, formerly known as Twitter, showing the headlights of a car in a dark setting. Another video hinted at the October 7th date, fueling speculation that a major announcement is forthcoming.
Many are hoping this will be the official launch of a long-awaited, lower-cost version of the popular Model Y. Tesla has delayed the rollout of this cheaper model in the U.S. before. Still, the company stated in June that it had completed the “first builds” and would begin selling them later this year. This stripped-down version is designed to be about 20% cheaper to produce than the current Model Y, a key factor in making it more affordable for a wider range of buyers.
The timing of this teaser is no accident. It comes just after the expiration of a major $7,500 U.S. tax credit for electric vehicles. With that popular incentive now gone, Tesla is under pressure to find new ways to attract buyers and maintain its sales momentum. A more affordable car would be the perfect solution.
Tesla recently reported record deliveries for the third quarter, largely due to a last-minute surge of buyers trying to take advantage of the tax credit before it expired. Now, the big question is what the company will do to maintain those sales numbers. All eyes are now on October 7th to see what Tesla has in store.
