Elon Musk just unveiled its newest car, the Model Y SUV
's second SUV, after the Model X. The vehicle will have a range of 300 miles per charge and the ability to accelerate from 0-60 mph in 3.5 seconds, CEO Elon Musk said. The vehicle will be able to seat seven people, Musk said.Musk said the vehicle's long-range version will start at $47,000, while its standard-range version will start at $39,000.
The unveiling comes at a time when the company is facing mounting financial pressure and, according to some analysts, a demand problem.At the time, the company said the move would enable it to slash the prices for all of its cars by several percent and roll out the long-promised $35,000 Model 3 sooner than expected.keep more stores open and increase the price of its vehicles
back to their previous amount. These moves signal the company may be facing some significant headwinds, according to Goldman Sachs analysts. "In the US, we think the amount of information points to declines in demand for Tesla's higher priced vehicle variants following the start of the phase-out of the Federal Tax credit; and we believe moves by the company to continue to improve its cost structure in order to deliver lower priced vehicles and tap remaining consumer demand corroborate this," Goldman Sachs said to clients in a note earlier this week.
What's more, Goldman analysts said there is also the worry that the reveal of the Model Y could put further pressure on the Model 3 sales because people may opt to wait to purchase the SUV instead of opting for the lower-cost sedan.
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