Tesla Likely to Reveal Budget Model Y Oct. 7

Tesla posted cryptic teasers on X showing a spinning metallic object and separated headlights with the date “10/7,” prompting market excitement and a share bump ahead of a likely Oct. 7 reveal. Multiple outlets and prototype sightings indicate the announcement will most likely be a stripped-down, more affordable version of the refreshed Model Y (codenamed E41) rather than the long-delayed Roadster. Reports say the budget Model Y would remove the full-width lightbar, use smaller wheels, drop the glass roof and pare back interior and tech (cloth seats and cheaper materials) to target roughly a 20% production-cost reduction. Tesla has said it canceled plans for a $25,000 new car and is instead pursuing de‑contented variants of existing models; Reuters and others report the company hopes to scale the cheaper Model Y to about 250,000 units a year by 2026. Analysts still disagree on pricing and specs (estimates range from mid-$30,000 to around $40,000), and the unveiling is viewed as pivotal as Tesla seeks to stem slowing sales amid rising competition.