If Tesla had hoped to quash the worries by announcing both a cheaper Model 3 sedan and a Model Y reveal within days, it has not worked.
The Silicon Valley car maker is scheduled to reveal the Model Y, a compact SUV, at 8 p.m. Pacific time Thursday at its Los Angeles-area design studio. The event will be live-streamed.
It also kept Tesla bears and bulls entrenched.Adding to the demand and margins worries, the company also said it would likely not show a profit in the first quarter, and it has flipped-flopped on a plan to close its stores. “The other concern is that the Model Y will likely hit the market around the same time as numerous 2021-model-year electric vehicles that various competitors have in the pipeline,” he said.The Model Y’s unveiling could boost “incremental reservations” given the larger global market for crossovers than sedans, and help Tesla’s cash balance thanks to a likely reservation-deposit system, analysts at Goldman Sachs said in a recent note.
Also on MarketWatch: Boeing’s reputation at risk following fatal crashes, but the company has overcome crises before The Model Y is likely to cost in a range between the high $30,000s and $50,000s, depending on features, they said.
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