Elon Musk may have let the cat out of the bag on Wednesday when he mentioned the Model Y during Tesla’s Q2 earnings call. When asked about the company’s next vehicle, his resp

Elon Musk confirmed that the new affordable Tesla will actually be a cheaper version of the Model Y crossover. It arrives before the end of 2025.

In 2020, Tesla controlled nearly 80% of the U.S. market, based on data from Experian. By 2022, that was down to 65.4%, followed by 55% in 2023. This year, per Cox Automotive, that share continues to decline, hovering around 45% as of July 11.