Elon Musk: Tesla Model Y Demand Expected To Be Up To 1 Million Units
Yesterday’s Q2 report from Tesla provided us with lots of valuable information, but following that report was Tesla’s live webcast of the shareholder’s meeting, which contained a bit of info that was not discussed in the Q2 report.
Tesla CEO Elon Musk spoke at the shareholder’s meeting and provided us with one solid comment on the upcoming Model Y, the crossover based on the Model 3.
According to Musk, demand for this electric CUV is expected to be through the roof. How high…you ask? Here is how the exchange went down on the conference call:
CLSA’s Emmanual Rosner asks:
“…on the piece about expanding the product lineup to other major segments: what do you view as your target timing for that? I know there was mention of some of these cars being available to be unveiled next year, so does that mean that we are looking at the following year?…”
“I mean, also to be clear like the priority vehicle development after the Model 3 would be the Model Y, the compact SUV because that’s also a car that where we expect to see demand in the 500,000 to 1,000,000 unit per year level. So it is the obvious priority after the Model 3.”
Of course, Musk could just be throwing numbers around, but with Model 3 reservations near 400,000 and the Y expected to appeal to a broader market, we do anticipate demand being very high.
The remaining question is when exactly will the Model Y be available. Musk didn’t provide us with an answer to that.