Tesla CEO Elon Musk had previously confirmed that a Model Y crossover would follow the launch of the Model 3. Musk never gave a concrete timeline for the Y other than to hint it is still couple years out, but it is expected at some point in the future.
Tesla Model Y Render via RM CarDesign
Autocar recently examined the impact the Y might have for Tesla and found that it will likely become the automaker's #1 selling vehicle. As Autocar states:
"As well as the much-hyped compact Model 3, Tesla is also expected to launch a compact crossover based on the same platform. The rumoured Model Y will, like the Model 3, be far more affordable than Tesla’s current offerings."
"The starting price of the Model 3 is likely to be around $37,000 (£30,000), with the Model Y expected to be slightly more expensive."
...the compact Model Y could turn out to be Tesla’s best seller – some seven million crossovers of all types were sold in the US last year..."
That's a huge segment to play in and if Tesla could enter the crossover market with say a $40,000, 250-mile CUV, then it's likely Tesla would see sales volume even higher than the Model 3.
First things first though. Tesla expects to begin production of the Model 3 this July, with volume deliveries beginning later this year.
We don't expect to see the Y come to market until at least 2019, but maybe later. If it launches likely depends on the success of the 3 and how well Tesla pulls off entering the more mass-market segments. Beyond the Y, expect a new Tesla Roadster and then perhaps even that long-rumored pickup truck.