Tesla set to present the new Model Y EV next March

Tesla set to present the new Model Y EV next March”

In a recent note, Wedbush Securities analyst Dan Ives stated that "underlying drivers" for the EV market would likely encourage customers to purchase Tesla's most affordable electric sedan, despite the focus of other carmakers on larger vehicles such as SUVs.

Deliveries in Europe, Musk said, could reach "significant" levels in late February or March, possibly moderating their effect on first-quarter numbers. Just a few months ago, a Model 3 owner uploaded footage which showed Tesla's Autopilot feature preventing what could easily have been a very serious crash, video of which can be seen below. He now expects Tesla to spend $2.2 billion to $2.3 billion in 2019 amid pent-up demand in the market.

The Tesla Model 3 has proven itself as a successful vehicle in the United States and Canada.

To start with, Tesla had announced a third price cut in China in two months, reports Reuters. Over the course of the year, Tesla passed through challenge after challenge as it ramped the production of the electric sedan.

More news: Late surge in trading as shoppers head out on Christmas Eve

Tesla's stock has gone down 5% this year, closing at $295.39 yesterday.

A man cleans a Tesla Model 3 vehicle during a media preview. It's also dramatically cheaper than a Model X, or even likely what the Model Y will end up costing.

Recently Tesla cut costs on its Model S and Model X after China's fund service said it would suspend extra duties on USA - made vehicles and automobile parts for three months from January, bringing down the expense of bringing in US - delivered Tesla autos into China available to be purchased. Backed byFoxconnandAlibaba, and valued at around $3 billion, Xiaopeng, or Xpeng, has gained some notoriety in the run-up to the release of its first vehicle because its concept designs borrowed heavily from Tesla's Model X.

As of writing, Tesla shares are trading up +.53% at $296.95.

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