A pared-down Model Y might do little to lift Tesla sales. To really get people excited about the brand again, Tesla needs “actual new vehicle models,” one analyst said.

"It's just a Model Y. Let the cat out of the bag there," Musk said when asked about Tesla's budget-friendly EV in an earnings call.

Tesla says production of the less expensive Model Y began in June and that it would go on sale in the fourth quarter of this year.

The high-selling Model Y is crucial for both Elon Musk and Tesla, but a half-hearted reskin of the car hasn’t reversed the company’s sales woes. Would a complete overhaul have been a better bet?

Tesla has been promising more affordable models as the thing that will help pull it out of its current rut. But in an earnings call Wednesday, the company’s CEO came right out and confirmed rumors that it would just be a stripped down version of the Model Y,

Tesla owners in Austin, Texas, are collaborating with police to identify an alleged serial vandal captured on Sentry Mode footage slashing multiple vehicles' tires.