Tesla shares aren’t rising on last night’s reveal
as the company shifts to an online-only sales system.
If Tesla executes to plan and delivers the Model Y on time, it will significantly benefit a young company that’s yet to post a profitable year. That’s because SUVs account for 49% of U.S. auto sales currently, with more than half of people buying them spending between $30,000 and $50,000, according to J.D. Power. Up to now, having only the bigger Model X with a starting price of about $80,000 and typically selling for more than $90,000, Tesla couldn’t compete for that broader customer base.
Still, Model Y will arrive at a time when, unlike with Roadster in 2009 and Model S sedan in 2012, there will be direct competitors in the battery-powered crossover segment.
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