The Tesla Y will be a compact SUV and will be available around 2020.  

If their manufacturing doesn’t delay its release, it could be a contender for the Prius-  one of the highest rated cars on the market.  Both would essentially be a hatchback model.  

Apparently Elon Musk wanted a brand new design but was pulled back.  

“I think in a prior call,” he said, “we publicly had said that Model Y, or our compact SUV … would be a totally new architecture.  Upon the council of my executive team … who reeled me back from the cliffs of insanity – much appreciated – the Model Y will, in fact, be using a substantial carryover from Model 3 in order to bring its market faster.”