Tesla Unveils Model Y, Kelley Blue Book Analysts Comment

Elon Musk unveiled a blue prototype of the long-awaited Model Y compact SUV yesterday. He provided some details about pricing, driving range and the targeted production launch date (Fall 2020). The “standard range” version of the sport utility vehicle will cost $39,000, go from 0 to 60 mph in 5.5 seconds and travel up to 230 miles between charges. Here’s how Kelley Blue Book analysts Karl Brauer and Michael Harley reacted to the reveal.

From Karl Brauer, executive publisher and analyst at Kelley Blue Book and Autotrader

“The Model Y represents Tesla’s biggest opportunity yet. It’s price and body style should resonate with the majority of today’s car buyers. This also makes the Model Y the most important vehicle in Tesla’s history. Every aspect of the Model Y, from design to launch to production, has the potential to improve – or damage – Tesla’s reputation with mainstream consumers. A big win would serve Tesla well at this point in the company’s journey from start-up to serious automaker. The Model Y is ideally positioned to serve that role.”

From Michael Harley, executive editor at Kelley Blue Book

“Tesla needs to widen its customer base from Elon and EV fans to mainstream consumers. The Model Y’s price and crossover design can do that, and if it enters the market soon enough, it will allow Tesla to keep pace with mainstream luxury brands like Audi, Jaguar and Volvo as they launch their own fleet of EV crossovers.”