Tesla Model 3 Sedan
Tesla Inc. announced a series of changes to its vehicle lineup and pricing, including making it tougher to buy its newly available entry-level $35,000 car.
Demand for Tesla Inc.’s Model 3 sedan is expected to remain soft in the United States until the release of the lower-priced $35,000 model next quarter, Cowen analyst Jeffrey Osborne said.
Tesla Inc.’s Model 3 lost a coveted recommendation from Consumer Reports, dropping its brand from the top 10 of the magazine’s closely watched annual ranking. The electric-car maker’s shares dropped.
Elon Musk said Tesla Inc. will make about 500,000 cars this year, a prediction that’s difficult to gauge given the CEO’s proclivity for setting stretch goals.
Tesla Inc. is cutting the price of its Model 3 sedan for the second time this year, citing the end of a customer-referral program that was a more costly incentive than the company realized.
It was only a few months ago that Wall Street was bashing Elon Musk’s Tesla Inc. Times have changed for the automaker and its mercurial CEO.