Tesla has announced a new car called the Model YL, a larger version of the popular Model Y. This new SUV is built to better compete in the three-row SUV market. It’s slightly longer and taller than the Model Y and comes with six seats. The launch is planned in China this fall, with an estimated price of around $56,000 USD.
According to Goldman Sachs, this is a positive step for Tesla. The Model YL could help the company grow in major markets like the U.S., Europe, and China, where mid-size SUVs are in high demand. While the YL might reduce some sales of the current Model Y and Model X, it could still expand Tesla’s customer base.
Tesla is also expected to release a lower-cost version of the Model Y or Model 3 in 2025. Goldman Sachs expects Tesla to deliver around 375,000 units of the new models by 2027.
However, there are some risks, such as:
Higher tariffs
Strong competition
Price pressure in the EV market
On the positive side, faster electric vehicle (EV) adoption and quicker product launches could help Tesla grow even more.
Goldman Sachs has kept a Neutral rating on Tesla stock, with a price target of $285.
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