AUSTIN: Tesla on Sunday teased an event on October 7, as investors and analysts await the unveiling of a more affordable model to sustain sales momentum.

In a nine-second video posted on the social media platform X, the Elon Musk-led automaker showed a vehicle with its headlights illuminated in a dark setting.

The company hinted at an event scheduled for Tuesday in a separate video that ended with "10/7".

Tesla has previously delayed rolling out a lower-cost version of the Model Y in the United States. The company stated in June that it had completed "first builds" of the vehicle, but would begin selling it in the fourth quarter and ramp up production more slowly than planned.

The stripped-down version is designed to be roughly 20% cheaper to produce than the refreshed Model Y and could scale to about 250,000 units a year in the US by 2026, sources told Reuters earlier this year.

Tesla reported record quarterly deliveries for the three months ended September, driven by a surge in EV purchases ahead of the US tax credit's expiration.

The teaser videos followed the expiration of a $7,500 US EV tax credit on Sept. 30, a shift that could shape consumer choices and prompt Tesla to recalibrate its pricing strategy.

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Tesla teases Tuesday event as focus shifts to affordable EVs