Tesla’s stock surged in early trading on October 6, 2023, rising over 3.5%. This increase followed the company’s release of intriguing video teasers that hinted at a potential new car reveal. The teaser videos featured close-ups of various car components, creating significant buzz on social media.
Musk Boosts Tesla Shares with New Model Teaser
The clips culminated in the date 10/7, stirring speculation about what Tesla might be announcing. Many industry observers believe the teasers could be linked to the long-anticipated affordable mass-market vehicle. This model is seen as critical for revitalizing Tesla’s sales momentum.
Speculations Surrounding the New Model
- Potential unveiling of an entry-level Model Y
- Possibility of next-generation Roadster, described by CEO Elon Musk as “something special beyond a car”
The surge in stock price came on the heels of Tesla’s announcement of record third-quarter deliveries. The company reported delivery figures of 497,099 units, reflecting a 7% increase from the previous year. However, analysts expressed caution, noting that much of this growth was spurred by a last-minute rush to secure federal EV tax credits, which expired on September 30.
Market Analysis
According to Matt Britzman from Hargreaves Lansdown, the upcoming teaser hints could indeed suggest the release of a more affordable Model Y. He emphasized that the timing and pricing of any new model will be crucial for driving demand in an increasingly competitive electric vehicle market.
