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Tesla’s ’Affordable’ EV Models Fail to Impress as Stock Drops 4%
Tesla’s ’Affordable’ EV Models Fail to Impress as Stock Drops 4%
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BTCCSquare news:
Tesla's newly launched lower-cost versions of its Model Y SUV and Model 3 Sedan, priced at $39,990 and $36,990 respectively, have drawn skepticism from investors and analysts. The stock fell over 4% as the market questioned whether these prices truly qualify as 'affordable' in today's competitive EV landscape.
CEO Elon Musk's long-promised mass-market strategy appears compromised after canceling plans for a $25,000 model. Instead, Tesla opted for trimmed-down versions of existing vehicles, with deliveries not expected until late 2025. Wedbush analysts suggest this half-measure may fail to address slowing demand amid fierce competition.
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