Tesla CEO Elon Musk jokingly motions to kick before introducing the Model Y at Tesla's design studio Thursday, March 14, 2019, in Hawthorne, Calif. The Model Y may be Tesla's most important product yet as it attempts to expand into the mainstream and generate enough cash to repay massive debts that threaten to topple the Palo Alto, Calif., company. (AP Photo/Jae C. Hong)

Tesla CEO Elon Musk said he expects the new Model Y SUV to outsell the Model S, Model X, and Model 3 combined.
“I think it will probably sell, probably do more Model Ys than (Model) S and (Model) X combined, most likely,” Musk said.
While Musk remains optimistic about the vehicle, some on Wall Street have expressed concerns about the Model Y eating into sales for the Model 3.

Tesla CEO Elon Musk said he expects the new Model Y SUV to outsell the Model S, Model X, and Model 3 combined.

“I think it’s really compelling. I’m confident that of any mid-sized SUV, it will be the one you want,” Musk said at the Model Y unveiling event in Hawthorne, California, on Thursday evening.

Tesla opened up orders for the long-range and Performance versions of the Model Y after the event. Customers can place their orders on the company’s website for a deposit of $2,500.

Read more: The Tesla Model Y has staggering specs — but it isn’t a major new design for Tesla

While Musk remains optimistic about the vehicle, some on Wall Street have expressed concerns about the Model Y eating into sales for the Model 3.

In a note to clients earlier this week, Goldman Sachs analysts said that the Model Y could put further pressure on the Model 3.

“While the unveil of the Model Y could drive incremental reservations— given a much larger global market for crossovers than sedans — and help cash balances given likely deposit collection, this new product could further weigh on Model 3 demand as consumers decide to wait a little longer to purchase a Tesla crossover vehicle (a segment that has seen significant increases in demand across the major auto markets the past few years),” …read more

Source:: Business Insider

      

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