Tesla Will Start Delivering Its New Model Y This Quarter

The Model 3 is winning over hundreds of thousands of customers, helping Tesla's (NASDAQ: TSLA) total quarterly vehicle delivery volume more than quadruple in just over two years. But the electric-car maker thinks its next vehicle to come to market will sell in even higher volumes than the Model 3. That vehicle is the Model Y -- a compact sport-utility vehicle priced only slightly higher than Tesla's popular Model 3.

But when will customers finally be able to get their hands on the Model Y? Alongside Tesla's fourth-quarter update on Wednesday, management revealed that the important vehicle is ahead of schedule. Model Y production has already begun and deliveries are scheduled to start by the end of March -- well ahead of the company's initial timeline for deliveries to start in the fall of 2020.

Tesla's Model Y. Image source: Tesla.

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Source Fool.com