Tesla shares down 5 percent after Model 3 launch, sales shake-up $TSLA
- Wall Street reacted nervously on Friday to Tesla Inc’s move to shut its network of showrooms and launch a long-awaited cheaper version of its Model 3 sedan, with its shares falling 5 percent and most analysts expressing concern over the company’s long-term margins.
“Taken in conjunction with the introduction of the $35k Model 3, we view this as confirmation that demand for Tesla vehicles has softened,” RBC Capital Markets analyst Joseph Spak wrote in a client note. Since unveiling the Model 3 in 2016, Musk has been promising a $35,000 version. A lower-priced Model 3 is seen critical to its long-term viability as it needs to reach more customers who can afford the vehicles to offset slowing sales of costlier sedans.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here are all the differences between the Tesla Model S and Model 3The Model S is a more luxurious mid-size four door. The Model 3 is a compact four-door that takes a more minimalist approach
Read more »
Elon Musk plans to announce some Tesla news on Thursday — here’s what Wall Street is expectingThe billionaire's spat with the SEC has created a buying opportunity, one analyst said.
Read more »
Tesla shares down after surprise Model 3 price drop, store cutsWall Street reacted nervously on Friday to Tesla Inc's move to shut its net...
Read more »
The 'un-iPhone moment' — here's what analysts had to say about Tesla's new Model 3Analysts were unimpressed after Tesla CEO Elon Musk announced a cheaper Model 3 yesterday afternoon.
Read more »
Tesla Safety Violations Dwarf Big U.S. Auto Plants In Aftermath Of Musk's Model 3 Push\n
Read more »
Tesla Safety Violations Dwarf Big U.S. Auto Plants In Aftermath Of Musk's Model 3 Push\n
Read more »
Tesla debuts $35K Model 3 - Reuters TVThe Tesla for the masses, promised about three years ago, which fans camped out for, is finally here. The electric car company said on Thursday it will offer a version of its Model 3 sedan at $35,000 dollars.
Read more »
Tesla launches long-awaited standard Model 3 starting at $35,000Tesla has finally launched the long-awaited standard Model 3 starting at $35,000, and Elon Musk says that the interior 'will be slightly better than was originally promised.'
Read more »
Tesla debuts $35,000 Model 3, sees loss in first quarterTesla Inc said on Thursday it would not be profitable in the first quarter, as i...
Read more »
Elon Musk thinks layoffs will keep Tesla profitable as $35,000 Model 3 arrivesNearly three years after Elon Musk promised a $35,000 Model 3 electric car, Tesla Inc. has finally delivered. Now, the question is about the promise of profitability Musk has been making for the past few months.
Read more »