Tesla Model Y SUV Delivery To Start Early 2020, Deutsche Bank Reveals

Tesla may start deliveries of its much-awaited crossover SUV Model Y, quite early. It is likely in the first quarter of 2020, according to a research note by Deutsche Bank.

In that case, Model Y will be hitting the market ahead of a full season. Tesla CEO Elon Musk had promised Model Y in summer 2020 during the third-quarter earnings call.

For Tesla, known for many failed self-imposed delivery deadlines, bringing Model Y so fast could be a symbolic win, CNBC reported.

The hints of Model Y’s early release came Tuesday when analysts at Deutsche Bank quoted Tesla suppliers in Taiwan who said they faced “accelerating orders” on parts meant for Model Y, and Tesla’s upcoming commercial truck, the Semi.

Deutsche Bank’s Senior Autos & Auto Technology Analyst, Emmanuel Rosner, in his note said: “Reports from suppliers of Model Y parts in Taiwan are claiming Tesla is requesting their orders be delivered much earlier than expected.”

The Taiwanese suppliers indicated Tesla is accelerating orders to start production a full six months ahead of the original schedule. This means Tesla Model Y would be available in the first quarter of next year.

Lately, Tesla is in the news for its Cybertruck and its design has got more limelight.

Ahead of Musk’s promised timeline

During the third-quarter earnings call, Musk told shareholders: “We’re ahead of schedule on Model Y preparations in Fremont, and the launch timeline from fall 2020 to summer 2020. There may be some room for improvement there, but confident about summer 2020.”

Musk asserted that Model Y will be amazing and would outsell Model S, Model X and Tesla Model 3 combined.

Meanwhile, market pundits noted that 2020 will have so many electric vehicles lined up for launch. Automakers General Motors, Ford, Tesla, Porsche, and Volkswagen will roll out new electric vehicles and expand competition in the segment.

Among the semi EV trucks, the R1T pickup from Rivian will go into production in 2020. The Michigan-based electric vehicle start-up has drawn investments from Amazon and Ford.

Car prices to soar

Meanwhile, Fox News reported that car prices will soar in 2020. Citing Car data website TrueCar the report said the average new car price could jump by 1.3 percent year over year and hit a whopping $35,623.

The new price will be more than $460 compared to 2018, or up by $152 from October 2019.

On Hyundai and Kia, the average transaction price may increase 10 percent and 9 percent, respectively, following their demand for new SUV models, the Hyundai Palisade and Kia Telluride. In the luxury category, BMW’s ATP will be up by 5 percent, led by the soaring sales of its new X7 SUV.