Tesla is set to unveil a cheaper Model Y variant to offset the expired $7,500 federal tax credit. Stock surged over 5% after teasers hinted at a new product launch. Expectations include cost-cutting measures like a metal roof and smaller screens. Q3 deliveries hit a record 497,099 units, exceeding estimates. Tesla plans to release Q3 results on Oct. 22 and hold its annual shareholder meeting on Nov. 6.

Read more at Yahoo Finance: Tesla to reveal cheaper Model Y in response to loss of tax credit