Tesla just launched the Model Y — here's why it's the company's most important car (TSLA)

Elon Musk Model Y

The Tesla Model Y is the sixth original "clean sheet" design the upstart all-electric automaker has unveiled.
The Tesla Model Y is a crossover SUV, and that's the hottest segment in the car business these days.
The Model Y could be Tesla's most important vehicle for the future.

Tesla unveiled its Model Y crossover SUV at the company's design studio near Los Angeles about a week ago. The vehicle has been much anticipated — not so much for any "Wow!" factor (crossovers are kind of a boring segment), but because the segment is red-hot at the moment for sales, and Tesla can use all the money it can get.

Tesla CEO Elon Musk says the Model Y could eventually outsell every other Tesla combined, and he's probably justified in thinking that. Crossovers have dethroned sedans in the US, the world's most dynamic and competitive auto market. And the Model Y's pricing will span the upper end of the mass market and stretch into the lower reaches of the luxury space: $40-$60,000.

But the Model Y also needs to deliver in foreign markets, especially China, where Tesla is constructing a new factory. The new vehicle's versatility will be a critical factor for new customers globally.

So you get the idea: the Model Y is IMPORTANT. Here are some more details on why.

FOLLOW US: On Facebook for more car and transportation content!