Skip to main content
This section contains press releases and other materials from third parties (including paid content). The Globe and Mail has not reviewed this content. Please see disclaimer.

Tesla Set to Launch New Model Y Variant to Kickstart Sluggish Indian Sales

Tipranks - Tipranks - Sat Apr 18, 7:52AM CDT

EV maker Tesla (TSLA) is reportedly gearing up to launch a new, large version of its Model Y L SUV in the world’s most populous country, India next week to kickstart sluggish sales.

Claim 30% Off TipRanks

New Family Favorite

Tesla, which reports Q1 earnings next week, is said to be ready to unveil a new version of its electric SUV in India, to boost sluggish sales in the country. It will be its first new product launch in India.

The Model Y L is a six-seat, long-wheelbase vehicle that made its global debut in China last year, but the Indian variant is understood to have a three-row seating layout for families seeking more space than the standard five-seat Model Y, which Tesla began selling in India last July.

Tesla will hope the new launch will spark more interest in the vast country with a population of 1.5 billion people. According to figures from Bloomberg, Tesla registered a pitiful 225 cars in India for the whole of 2025. This forced the Elon Musk-led group into offering discounts of up to 200,000 rupees, or about $2,200, on certain versions of the SUV in order to move inventory. Notably, these discounts were offered directly to shoppers and test-drive customers rather than through a public nationwide promotion.

Market Full of Promise

The Indian passenger car market is certainly one Tesla will be keen to capture. It is expected to grow from $41.34 billion in 2025 to $63.84 billion by 2031. That will be driven by increased incomes and more demand from younger, more digitally and sustainably savvy customers.

But, it is a tough market to crack. Tesla, like other overseas car makers has to cope with Indian regulations, which impose tariffs of between 70% and 110% on imported cars. The competition in India is also tough with drivers seeking out cheaper or better-equipped alternatives from the likes of BMW (BAMXF) or Chinese group BYD (BYDDF).

Is TSLA a Good Stock to Buy Now?

On TipRanks, TSLA has a Hold consensus based on 13 Buy, 11 Hold and 6 Sell ratings. Its highest price target is $600. TSLA stock’s consensus price target is $401.13, implying a 3.14% upside.

Disclaimer & DisclosureReport an Issue

This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2026.

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab).