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Tesla share price down 5% after unveiling Model Y SUV

17 March 2019

Tesla has unveiled the SUV variant of the Model 3 in Hawthorne, California. The advanced-technology includes smartphone-operated entry and exit from the vehicle along with the remote lock and unlock system integrated into the Model Y. Tesla has also featured a cabin pre-conditioning system through a remote in their all-new SUV for customer facilitation. He apparently wanted to go with the Model E name instead of Model 3 but Ford (who also applied to trademark the Model E name) didn't like that idea. Jeffery Osborne, managing director at Cowan, felt that the Model Y SUV was reveal did not live up to expectations. Spak said the model's impact on the Model 3 could be "significant" as crossover demand around the world has exceeded that of sedans. Y completed the acronym. According to documents leaked by Business Insider, it should be August, but as the Model 3 and its shanty tent production line showed, Tesla is still only half way through the book on how to build a auto. The crossover is ~76% the same as the Model 3 and the remaining ~24% probably wouldn't be a big challenge to integrate. Standard Range model acceleration is 5.9s for the 0-60, plus a top speed of 120 miles per hour. It's key, Tesla says, to the Model Y achieving its range figures, which clock in at as much as 300 miles on a charge from the Long Range model, or 230 miles - still impressive - from the Standard Range version which will follow on in 2021.

The Model Y, which should appeal to buyers of vehicles such as the Mercedes GLA, BMW X2, or Lexus NX, will have a starting price of $39,000 for the standard range version. Orders are already being taken online. Th seven seat model is optional of course thanks to 66 cubic feet or 1.9 cube meter of cabin space matched with a panoramic glass roof. Instead, it's about having the styling cues of an SUV, but being based on a passenger auto platform underneath. What are your thoughts on Tesla Model Y?

Source Youtube  Tesla
Source Youtube Tesla

Musk had many controversies facing him a year ago. This vehicle is new and unique, and the segment is thus new territory, so we have to see how the (often irrational) market actually responds.

At the risk of sounding cynical, I couldn't help but wonder how many early adopters of the Model 3 are going to go out and buy the Model Y as a replacement.

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That's the day the carmaker gathered more than 115,000 deposits, at $1,000 each, in the 24 hours leading up to the start of the Model 3 launch event-before the sedan had even been shown. "So there you have the S3XY presentation".

Tesla plans to replicate the success of Model 3 with the release of the Model Y. "2018 felt like aging 5 years in one. thank you for supporting Tesla through this hard period", the CEO joked. "The cool thing'll be able to do basically anything by the end of this year just with software upgrades", Musk said, without elaborating. About 3.1 million shares of Maxwell have been tendered so far, according to Tesla, of about 46 million shares outstanding. The Model X - revealed in prototype form back in 2012, and in production from 2015 - is referred to by the company as an SUV.

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Tesla share price down 5% after unveiling Model Y SUV