Tesla's Cheaper Models Have Arrived And The World Says 'Meh'

"Yesterday, Tesla attempted to rock everyone's world with the advent of the lower-cost Model Y and Model 3. For months noweven years, if you go back far enoughTesla has promised "more affordable" EVs coming this year that might solve its sales challenges and put some badly needed excitement into this troubled brand. But what we got were existing cars with some puzzling omissions from the already-barren features list."

"For a while there, it seemed like Tesla's stock price could do no wrong. Whether it's the less-than-stellar sales of the Cybertruck or Musk's several attempts at reclaiming his title of the World's Richest Man via some of the largest corporate pay package deals and stock transfers in human history, the price of $TSLA has not faltered. Yet Tesla's facing a real sales slump, especially in Europe, where Chinese EV manufacturers like BYD have started to make real inroads."

Tesla introduced lower-cost versions of the Model Y and Model 3 after long promises of more affordable EVs, but the vehicles retained existing designs and omitted several features. Market reaction was muted and analysts, investors, and customers expressed disappointment. Tesla stock closed down about 4% after the launch and showed only a slight recovery the next morning, producing no meaningful boost. Sales face pressure, particularly in Europe, where Chinese manufacturers like BYD are winning customers from the Model 3. Expectations that cheaper models would quickly fix sales challenges and restore momentum were not met.

Read at insideevs.com