Published: Sat, March 16, 2019
Business | By Eloise Houston

Tesla's compact SUV Model Y will start at $39,000

Tesla's compact SUV Model Y will start at $39,000

Tesla will begin taking orders for the Model Y shortly after Thursday's reveal.

Musk has announced yet another product way too early, the new auto that is a mini SUV will ship in fall 2020 according to Elon Standard time, which in the real world realistically means 2021.

In terms of performance, the flagship Model Y boasts a range of 280 miles (450 km), a top speed of 150 mph (241 km/h) and a 0-60 mph time of 3.5 seconds.

And it's about to get better - Tesla's first operational Supercharger V3.0 was up and running outside the Model Y event, a 250kW charger capable of delivering 75 miles of range in 5 minutes, or perhaps a better but utterly irrelevant headline; 1000 miles per hour. Tesla says that with the seats folded down, the Model Y offers a generous 65 cu ft of cargo space. Based on the underpinnings of the Model 3, the resemblance to its forebearer is striking to the point of being comical.

At the end of his presentation, Musk claimed that the Model Y would probably sell more "than X and 3 combined". However, the Standard Range won't make an appearance until Spring 2021.

"There is clearly a large market for the M3, and likely the Model Y, but this seems to fall short of more aggressive expectations given vehicle prices seem too high, in our opinion", Irwin said.

Inside, the Model Y shares the Model 3's simplistic interior with a horizontal shelf-like dashboard and 15-inch touchscreen that houses almost all vehicle controls.

Just like the bigger Model X, the new crossover will have a steeply raked rear, meaning it shares more in common with a BMW X4 than a Toyota Kluger.

Moving forward. In a note Friday morning, a team of Cowen analysts wrote that the Model Y event "held no surprises" and didn't address many investor concerns. The more powerful versions thus offer slightly less range than the small sedan, which is rated for 220 miles with a full charge in the least-expensive Standard Range and 325 in the Long Range version.

A standard version, to be available some time in 2021, would cost $39,000, with a 230-mile range.

Given the popularity of SUVs in the USA, the Model Y is likely to be even better-received than the Model 3-if it can skip to a drama-free production ramp-up as well as it skips the Model 3 hype.

"Twelve months from now we will have made about 1 million vehicles", Musk said at the event, without specifying the breakdown of models.

It has seven seats and features a panoramic glass roof and a 15-inch (38-centimeter) touchscreen interface for accessing all the car's controls.

It comes after a challenging period for Tesla, with production issues and legal problems for Mr Musk. When Musk unveiled the Model 3 in March 2016, the company was flooded with hundreds of thousands of US$1,000 deposits from customers.

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