Tesla CEO Elon Musk took the opportunity during an earnings call last week to convey that the cars Tesla is currently building are still too expensive. The Model 3 has a starting price of $37,990 in the U.S. which according to Musk needs to be even less expensive.
Musk told investors on the call that “It is important to make the car affordable. Like the thing that bugs me the most about where we are right now is that our cars are not affordable enough. We need to fix that.”
There was no mention of a timeline to when we will see the new model hit the market or where it will be produced, we can speculate that it will be smaller than the Model 3.