Tesla Teases Affordable EV Launch at October 7 Event Following Record Quarterly Deliveries

Tesla has hinted at an upcoming event on October 7, drawing attention as investors and analysts eagerly await information about a more affordable electric vehicle model that could maintain the company's sales momentum.

The electric vehicle manufacturer shared a brief nine-second video on X (formerly Twitter) showing a vehicle with illuminated headlights in a darkened environment. In a separate video, Tesla clearly indicated the Tuesday event with "10/7" appearing at the conclusion.

Tesla has previously postponed the release of a more affordable Model Y variant in the United States. In June, the company announced it had completed initial production builds of this vehicle but would only begin sales in the fourth quarter, with production scaling more gradually than initially planned.

According to sources who spoke with Reuters earlier this year, this economical version is engineered to be approximately 20% less expensive to manufacture than the updated Model Y. Production could potentially reach around 250,000 units annually in the U.S. by 2026.

The company recently reported record-breaking quarterly deliveries for the third quarter ending in September, primarily driven by increased electric vehicle purchases as consumers rushed to take advantage of the U.S. tax credit before its expiration.

These teaser videos were released following the September 30 expiration of the $7,500 U.S. electric vehicle tax credit, a significant change that could influence consumer purchasing decisions and potentially lead Tesla to adjust its pricing strategy accordingly.