Tesla reports steep drop in profits despite US rush to buy electric vehicles

Very hard to take this article seriously when they claim the Model Y was just released this month when it actually came out in 2020. "Tesla also debuted a long-promised, cheaper sedan called the Model Y earlier this month in a bid to increase slumping sales. The new line of sedans received criticism from some analysts over its starting prices of $39,990 and $36,990 – significantly higher than Chinese low-cost competitors." Also the claimed "Rush to buy electric vehicles" put revenue only 2% above expectations?

> Also the claimed "Rush to buy electric vehicles" put revenue only 2% above expectations?

The rush to buy electric vehicles was baked into the expectations, so beating by 2% is still noteworthy.

Presumably they mean the Model Y Standard. The existing model became the Model Y Premium.

They just refreshed the Model Y with a new “standard” model which they are also just calling Model Y with the old base model now being called Premium.

So what they said is correct but a little misleading, perhaps as a dig on Tesla’s naming conventions.

Blame Tesla for the branding. Wikipedia on the Model Y L[0]

  In June 2025, Tesla introduced the three-row, six-seater version of the Model Y, marketed as the Model Y L.[84] Debuting in China and produced at Gigafactory Shanghai, the variant introduces a six-seat configuration with a lengthened cabin and upgraded interior features. It is equipped with 19-inch aero wheels in a new design and offers a new exterior colour option called Cosmic Silver. Deliveries in China commenced on September 2, 2025.[85] 

[0] https://en.wikipedia.org/wiki/Tesla_Model_Y

But they did introduce a cheaper sedan this month. It happens to be called the Model Y as well. This is unambiguously true. I think your reading comprehension needs work. It's not saying this is the only Model Y or that there is no other Model Y.