Elon Musk has finally confirmed that Tesla’s new ‘affordable’ electric car is just going to be the Model Y in a cheaper format. Musk has ended months of speculations and misinformation, which he partly created, about Tesla’s upcoming cheaper electric vehicle model.

In 2020, Tesla controlled nearly 80% of the U.S. market, based on data from Experian. By 2022, that was down to 65.4%, followed by 55% in 2023. This year, per Cox Automotive, that share continues to decline, hovering around 45% as of July 11.

The high-selling Model Y is crucial for both Elon Musk and Tesla, but a half-hearted reskin of the car hasn’t reversed the company’s sales woes. Would a complete overhaul have been a better bet?

Gary Black believes Tesla's affordable Model Y trim level offers no 'incremental volume' and may cannibalize higher-priced models.

Though the criteria for the Insurance Institute for Highway Safety’s highest honor are more strict, both the Tesla Model Y and Volvo XC90 Plug-in Hybrid SUVs have earned the agency’s highest honor, Top Safety Pick+.

Tesla is poised to launch the long-wheelbase variant of the Model Y in the US later this year, finally nailing the coffin for the obsolete Model X

In the following piece, we will review whether the Tesla Model Y’s price over time has changed drastically, contrasting the current price to that of its initial release, and offering a prediction of where its price trend is likely to head.

Tesla has pulled back the curtain on its 2026 Model Y, revealing a refreshed design packed with enhanced tech, greater efficiency, and subtle style shifts aimed at staying ahead in the EV race. With smarter features and refined engineering,