Tesla's New Line: Lower Prices, Higher Hopes?
Tesla introduces affordable versions of its Model Y SUV and Model 3 sedan, aiming to attract a broader audience with starting prices of $39,990 and $36,990. However, critics argue these prices are insufficient to capture new buyers. Tesla faces competition in global markets and challenges from lower-priced competitors.
Tesla has launched more affordable versions of its popular Model Y SUV and Model 3 sedan. With starting prices $39,990 and $36,990 respectively, the company aims to expand its customer base. However, critics believe these prices might not significantly lure new buyers to the electric vehicle brand.
CEO Elon Musk, in the past, suggested a price below $30,000, claiming it essential for attracting a wider audience. With rising competition from Europe and China, and the expiration of a $7,500 U.S. tax credit, Tesla is facing pressure to boost sales amid declining figures.
Analysts note that while the new offerings are a step towards more accessible pricing, they fall short of the anticipated lower threshold. Tesla's efforts come as they navigate market challenges, including competition from Chinese automakers and maintaining brand loyalty in Europe.
(With inputs from agencies.)
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