Tesla Inc. shares jumped 5.5% on Monday after a pair of cryptic posts by Chief Executive Elon Musk on X.com fuelled speculation that the company could unveil a cheaper version of its Model Y as early as this week.
One of the posts, shared on Saturday, showed a spinning object ending with “10/7”, while another posted Sunday featured headlights in darkness — imagery that investors interpreted as teasing a vehicle reveal.
Tesla has been signalling plans to launch lower-cost electric vehicles, with Musk in July describing a stripped-down Model Y as one of the “cheaper EVs” in development. The current base Model 3 starts at around $42,500, while the entry-level Cybertruck comes in near $80,000.
The speculation comes as Tesla faces growing pressure to reignite consumer excitement and counter falling U.S. market share amid an industry-wide EV boom. The automaker has not released a truly new design since the Cybertruck, and analysts say a pared-back Model Y could help restore momentum after recent sales softness.
Still, some investors believe Tesla’s next growth chapter will come from robotaxi technology and AI-driven products, rather than incremental car refreshes.
