FAST FIVE: Tesla's Disappointing Model Y Reveal Renews Fears About Its Cash Balance
Bernstein Co., commented Friday: “More expensive customer deposits for Model Y are likely to reinforce bear concerns about Tesla's cash.
We expect initial orders to be notably lower than Model 3.” The “standard” version of the Model Y, priced at $39,000, is slated to be available in Spring of 2021 – about two years away.
This timing likely implies the company is postponing the costly Model Y ramp in 2019 to conserve cash.” Michael Harley, executive editor of Kelley Blue Book echoed our observations about the reveal, saying: “He was not the usual charismatic Elon Musk.
People in the crowd like the car, but Musk only spent a fraction of his time talking about it.” Another well known name in the industry, Edmunds, called the Model Y “not a true SUV”, but rather a “slightly-raised Model 3”.
pic.twitter.com/Inutp7tphs – Edmunds (@edmunds) March 15, 2019 We described the event as “a bomb of a presentation” after watching Elon Musk mumble his way through the reveal that started fifteen minutes late and ended with a vehicle that looked suspiciously like the Model 3. The Model Y, to put it lightly, seemed to be met with a tepid reception, not just from the crowd at the event, but also by Musk himself, who seemed none too enthused to be introducing it. .