"Model Y unveil event on March 14 at LA Design Studio", Musk announced on Twitter last week. But Tesla will likely introduce higher-priced versions of the vehicle before it brings to market the base model, just as it did with the Model 3.
With the reveal of the Model Y Tesla will look to tap into the compact SUV segment of the US auto market, which grew by grew by 12.6 percent to 3.5 million in 2018.
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However, this could help Tesla get more units of the Model Y out on the road, something which has been a major worry for the company with the Model 3. Hence, we expect Tesla Model Y to come out at $38,500 for the basic variant. "Since Model Y will be built on the Model 3 platform and is created to share about 75% of its components with Model 3", Tesla explained in its fourth-quarter shareholder letter, "the cost of the Model Y production line should be substantially lower than the Model 3 line in Fremont, and the production ramp should also be faster".
Daniel Sparks owns shares of Tesla. In China, by the end of the year, Tesla is targeting 3,000 vehicles per week. The Model Y will slowly begin production early next year with production ramping up in late 2020.
For a few months possibly a meaningful saving will not happen for Tesla when it starts making the Model 3 vehicle in volume. The Model Y will have a slightly shorter range than the Model 3 despite the identical battery. Tesla says it will accelerate V3 Supercharger installation in "Q2 and Q3", so you might see one sooner than you think.
Tesla's struggle to produce enough Model 3 sedans in 2018 could be alleviated by both the expansion of its current Fremont, California manufacturing facility and the addition of a new "Gigafactory" to build vehicles more affordably for its overseas customers. With the Model Y, production is expected to be initially handled by the company's Gigafactory near Reno, Nevada.
That doesn't mean every Model Y will be made in America.
Tesla has backed off a plan to close all its U.S. stores and said it will instead raise prices of its higher-end vehicles by about 3 percent on average. This wasn't always going to be the case, as Musk previously said that it would utilize a bespoke platform.