"Tesla on Tuesday unveiled its two most affordable electric vehicle models yet, and reactions from analysts and business leaders have been mixed. Tesla announced its $36,990 Model 3 Standard and $39,990 Model Y Standard, which are about $5,000 cheaper than the prior models and come with fewer features. Fans and investors have long awaited Tesla's introduction of more affordable models, but the new models may not have been what Wall Street was looking for."
"Tesla's stock dipped after the announcement, and the share price was down 4.45% at market close on Tuesday. Here's what analysts, investors, and business leaders have said about the new models. Notably, Tesla CEO Elon Musk had not posted on X about the new models as of Tuesday evening, though he did post about an update to Tesla's fully self-driving software as well as xAI's Grok."
Tesla introduced lower-priced trims: the Model 3 Standard at $36,990 and the Model Y Standard at $39,990. Each new trim is roughly $5,000 cheaper than prior versions and omits certain features to reach the lower price points. Reactions from analysts, investors, and business leaders were mixed, with some stakeholders disappointed by the trade-offs. Tesla's share price fell 4.45% at market close after the announcement. CEO Elon Musk had not posted about the new models on X as of Tuesday evening, though he posted about a fully self-driving software update and xAI's Grok.
Read at Business Insider
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