Both are priced at $40,000 and under.
Transcript:
CAROLINE WOODS: Tesla just dropped “more affordable” versions of its Model 3 and Model Y – $37K for the 3, $40K for the Y Standard. But here’s the catch: those prices are still higher than better-equipped models were a week ago when the $7,500 tax credit applied.
Might be why investors aren’t impressed. Analysts meanwhile are mixed: some see it as a win for consumers and a step toward higher delivery volumes; others call it “not much of a product catalyst,” noting the price cuts are modest.
CEO Elon Musk had promised a $25K mass-market EV, but that’s on hold. These slightly cheaper versions aim to reach more buyers, reverse falling sales, and respond to rising competition in Europe and China.But here’s the risk: lower-priced versions of existing models aren’t new cars. That could mean the cheaper options become the default, limiting Tesla’s ability to grow overall sales.
Tesla reports earnings later this month – the cars are “cheaper,” but will they actually move the needle?
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