In this articleTSLA your favorite stocksCREATE FREE ACCOUNTElon Musk, CEO of SpaceX and Tesla, attends the Viva nology conference at the Porte de Versailles exhibition center in Paris on June 16, 2023.Gonzalo Fuentes | ReutersTesla posted a teaser on X sparking speculation that the electric carmaker could be gearing up to release a new car.The first posted on Sunday shows a spinning component which many online said could be an internal component of a vehicle.
The ends with the numbers "10/7," indicating Tuesday's date.A second also posted on Sunday shows just the headlights of a car.The teasers have sparked conversation online and among analysts what Tesla is up to — and two theories have emerged.The first is that it could be the next-generation Roadster vehicle that Tesla CEO Elon Musk has been mising for years.
The second is that Tesla could be to unveil a long-awaited mass market model.Musk teased the next-generation Roadster concept back at an event in November 2017, and in June 2018 in a series of tweets.The billionaire has since hyped the vehicle repeatedly and, in September, said on X that "the new Roadster is something special beyond a car."Musk has a history of mising things that are either not dered or take substantially longer than he initially says.Meanwhile, Tesla has been saying a cheaper mass-market car will hit the market this year.
However, Musk has confirmed this lower cost offering will effectively be a stripped down Model Y.For investors, a mass-market model is seen as key to revitalizing Tesla's sales.
While Tesla reported a jump in auto deries in the third quarter of the year, this was attributed to a pull forward in demand due to the expiration of a federal tax credit.
In the quarter before, Tesla reported a dery decline.The company has seen a continuous slump in sales in Europe, and it continues to face heavy competition in China, another key market, from local players BYD which are also expanding overseas.Chinese players have been launching low-cost offerings in Europe and elsewhere putting more pressure on Tesla to released a model at around the $25,000 to $30,000 mark.