Tesla Teases New Affordable Model Ahead of October Event

Tesla sparked excitement on Sunday with a short teaser video hinting at a new, more affordable vehicle. In a nine-second clip shared on social media platform X, the car’s headlights glowed in the dark, accompanied by a subtle hint of an event scheduled for Tuesday, October 7.

The announcement comes as the electric vehicle maker faces growing pressure to maintain sales momentum after the U.S. EV tax credit of $7,500 expired on September 30. Analysts and investors are closely watching for a lower-cost Model Y, which could appeal to a broader market segment.

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Tesla first revealed in June that it had completed initial builds of this stripped-down Model Y, but confirmed sales would begin in the fourth quarter. The vehicle is expected to cost roughly 20% less to produce than the current refreshed Model Y. According to sources, production could eventually reach around 250,000 units annually in the U.S. by 2026.

The company’s record deliveries in the previous quarter were fueled by a rush in EV purchases before the expiration of federal tax incentives. With the new model, Tesla seems positioned to balance affordability with production scale, potentially reshaping consumer options in the competitive EV market.

The teaser video follows a trend of Tesla using minimalistic marketing to build anticipation, keeping details scarce but leaving industry observers eager for more information in the upcoming event.