Tesla will unveil their hotly anticipated Model Y crossover next week.
We’ve know that Tesla had been working on an electric crossover to sit below the Model X for some time. We didn’t know much about it other than the fact it was a crossover. We also hadn’t seen much in terms of teasers or even renders. All we had to go on was a lump underneath a tarp in a Tesla promotional video.
But we won’t have to wait for much longer. Tesla CEO Elon Musk tweeted out last Sunday that the cover would come off on Thursday, March 14th.
Model Y unveil event on March 14 at LA Design Studio— Elon Musk (@elonmusk) March 3, 2019
Musk also revealed a few more features of the Model Y. According to subsequent tweets, the Model Y will be roughly 10% larger than the Model 3 and will cost roughly 10% more.
Currently, the Model 3 comes in several trims, starting with the base-model Standard Range at $26,950. Next up is the Long Range at $38,950, with the top-of-the-line Performance trim starting at $49,950.
If the Model Y follows the same trim structure, then a Standard Model Y would be $29,645, a Long Range Model Y would be $42,845, and a Performance Model Y would cost $54,945.
Model Y, being an SUV, is about 10% bigger than Model 3, so will cost about 10% more & have slightly less range for same battery— Elon Musk (@elonmusk) March 3, 2019
However, it’s a common conceit amongst carmakers that a larger vehicle would necessarily bear a commensurate increase in price. Most of the cost of a new vehicle is spent on the engine and technology, which generally don’t change even when the vehicle they’re placed in is larger. Thus, a 10% larger vehicle does not actually cost a carmaker 10% more to make in most circumstances.
Buyers believe that it does, so carmakers are all swapping to crossovers and SUVs for their fat profit margins. Tesla is no exception, it seems.
Detailed specs & pricing will be provided, as well as test rides in Y— Elon Musk (@elonmusk) March 3, 2019
Musk also stated that the Model Y would have a slightly shorter battery range than the Model 3 as a result of the increased mass. That’s 220 miles on the Standard, 264 miles on the Long Range, and 325 miles on the Performance version.
We won’t know how many fewer miles of range the Model Y will have until Tesla does the full reveal next week. We’ll also get full specs and pricing, so mark your calendars for March 14th.