Tesla Teases October 7 Event

Tesla (NASDAQ: TSLA) teased a new event scheduled for October 7, releasing a 10-second video on social media showing a vehicle’s headlights in the dark, followed by “10/7.” The move sparked speculation that Tesla could unveil a lower-cost Model Y variant to bolster affordability and expand its customer base.

Shareholder Pushback on Musk’s Pay Plan

The buzz comes amid growing scrutiny of Tesla’s leadership. A group of shareholders and state officials urged investors to reject Elon Musk’s $1 trillion pay package and the re-election of three board directors at the upcoming annual meeting. Concerns cited include:

Volatile financial and operational performance.
Intensifying global EV competition.
Lack of board independence.

Record Q3 Deliveries

Tesla delivered 497,100 vehicles in Q3, a company record.
Beat consensus estimates of 448,000 deliveries.
Surge attributed to buyers rushing to secure the $7,500 EV tax credit before expiration.

Market Impact

Shares rose nearly 2% premarket Monday, with the teaser video seen as a potential catalyst for demand.
Analysts suggest a cheaper Model Y could help Tesla restore affordability momentum and extend its lead in the EV market.
Investors are awaiting more details on October 7 to see if the event signals a renewed growth strategy.