Tesla expected to unveil lower-cost Model Y in push to reignite sales

Core Viewpoint - Tesla is set to launch a more affordable version of its popular Model Y SUV to address declining sales and market share in the face of increasing global competition [1] Company Summary - The new Model Y variant aims to attract a broader customer base by offering a lower price point [1] - This move is part of Tesla's strategy to counteract the effects of rising competition in the electric vehicle market [1] Industry Summary - The electric vehicle market is experiencing heightened competition, which is impacting sales and market share for established players like Tesla [1] - The introduction of more affordable models is becoming a critical strategy for automakers to maintain relevance and capture market share in a rapidly evolving industry [1]