Tesla is about to reveal the Model Y - here's how much it could cost
- Tesla will unveil its upcoming Model Y crossover SUV on Thursday.
- The automaker's CEO, Elon Musk, has said the vehicle will be about 10% more expensive than Tesla's Model 3 sedan, which starts at $35,000, though he has not specified whether the 10% premium will apply to multiple trims or just the base model.
- Predictions from three analysts would give the Model Y a price range of around $40,000 to $85,000.
Tesla will reveal its upcoming Model Y crossover SUV on Thursday.
The automaker's CEO, Elon Musk, has said the vehicle will be about 10% more expensive than Tesla's Model 3 sedan, which starts at $35,000, though he has not specified whether the 10% premium will apply to multiple trims or just the base model.Read more: Tesla is about to unveil the Model Y. Here's everything we know about the vehicle so far.
Financial and automotive analysts have made predictions about the Model Y's price range ahead of its unveiling. Here's what three have said:
- Goldman Sachs said in a note to investors on Wednesday that it expects each Model Y trim will cost about $5,000 more than the corresponding Model 3 trim. If the Model Y has as many trims as the Model 3, they would start at the following prices, according to Goldman Sachs: $40,000, $42,000, $45,000, $48,000, $50,000, and $61,000.
- Daniel Ives, a managing director at Wedbush Securities, said in a Wednesday note that he expected the Model Y's price range to fall "in the high $30K to $50K range."
- The market research firm JD Power said in a Wednesday report that it expects the Model Y to cost between $45,000 and $85,000.
The Model Y will be Tesla's second SUV, after the Model X. Musk has said it will share about 75% its parts with the Model 3 while being about 10% larger than the Model 3. Internal Tesla documents reviewed by Business Insider said the Model Y would have some features absent from the Model 3, like a third row of seats, an IP Riser, and a center console riser.
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