A photo of the affordable Model Y was allegedly shown briefly on Tesla’s website alongside pricing and other details

Wall Street is warming back up to Tesla, but this renewed optimism isn’t tied to its best-selling Model Y or Model 3.

Tesla says the first builds of a more affordable model happened in June, with volume production planned for the second half of 2025. The new car will likely slot below today's Model Y and lean into Tesla's self-driving roadmap.

Europe was able to enjoy the Model Y Performance a month earlier, but Tesla has finally launched the high-performance EV SUV on its home shores.

At around the $40,000 mark, you can also get the Chevy Equinox EV with AWD, which makes 300 horsepower—this is enough to enjoy that instant surge of electric power. The base Ford Mustang Mach-E is cheaper at $37,995, and Hyundai has just slashed the price of the Ioniq 5, which will now start at only $35,000.

Tesla plans to release a de-contented Model Y with lower base price, and it's been spotted ahead of its apparently imminent unveil.

Tesla’s facelift of the Model Y SUV hasn’t proved enough to halt a decline in sales, but from this week, there’s a fresh reason to give the automaker’s showrooms some of your time. The range-topping Model Y Performance is officially on sale in the US, and at just $57,490, it looks like a seriously good value for what it puts on the table.

The Model Y Performance is Tesla's second EV that supports Vehicle-to-Load (V2L) bi-directional charging via the Tesla Outlet Adapter

Shares in Tesla ( TSLA -5.12%) surged by a remarkable 33.2% in September, according to data provided by S&P Global Market Intelligence. The move is primarily a result of an accumulation of positive newsflow throughout the month, rather than any one overarching event.

The pace of Tesla Inc.’s sales decline is expected to slow, offering investors a measure of relief amid a lengthy downturn at Elon Musk’s electric-car maker.