Tesla Bold Actions: Stock Drop, Model 3 Upgrade, and World Domination Plan
Tesla is a most known and top brand among all the brands in the world. People often being seen so excited to be with Tesla and drive Tesla... They also favorite player in electric cars and green energy!!
Tesla is a major producer of electric cars and helps a lot to save the environment from pollution as well. Via Google Images
Introduction
Tesla's stock prices fell by 5% on Friday. This drop occurred because Tesla reduced prices for some car models in the U.S. and also lowered the price for its premium driver assistance software.
The stock closed at $245.01, but it's still up almost 100% for the year, with a 2.7% gain for the week.
Tesla's CEO, Elon Musk, had previously stated that the price of their premium driver assistance software, known as Full Self-Driving, would only increase. However, Tesla reduced the price by $3,000 for U.S. customers who buy it upfront instead of through a monthly subscription, which costs between $99 and $199 per month depending on the version.
Tesla is also cutting prices for its cars in inventory, including the Model 3 sedan, Model S sedan, and Model X SUV in the U.S. In China, Tesla is reducing the prices of the Model S and Model X by about 7%.
This price cut on some Model X cars in the U.S. makes them eligible for a $7,500 tax break for qualified buyers. However, some previous Tesla customers in the U.S. and China are unhappy because lower prices can reduce the resale value of their cars and lead to higher insurance costs.
New for China Market
Tesla also revealed a refreshed Model 3, which includes changes like a "stalkless" turn signal. In China and the EU, drivers of the redesigned Model 3 will need to use a button on the steering wheel to indicate lane changes or turns, and they can control park, reverse, neutral, and drive functions through the touchscreen. The base Model 3 refresh in China is about 12% more expensive than its predecessor.
The Model 3 refresh, also known as the "highland," features a longer-range battery. Tesla claims that the higher-end version can travel up to 713 km (443 miles) on a single charge, while the base model can go 606 km (377 miles). The new Model 3 variant also includes design changes, such as a touchscreen for backseat passengers to adjust comfort and entertainment settings, along with new color options.
Analysts at Bank of America believe that the impact of the new Model 3 on Chinese electric vehicle competitors should be manageable because the sedan's entry price is higher than expected by consumers.
However, due to the increased starting price, initial sales volume for the Model 3 refresh in China may not be as high as anticipated. Nevertheless, analysts remain positive about the vehicle's sales outlook for the quarter, as consumers have been eagerly awaiting the upgrade.
Tesla also faced reports of new federal probes by the U.S. Securities and Exchange Commission and a Manhattan federal prosecutor regarding whether the company misled consumers with prior EV battery range claims and improperly used resources to benefit Musk personally.
Regarding the use of company resources, Musk denied reports that Tesla had plans to build him a "glass house" near Austin, Texas.
Redesigned Model 3 Improvements
The redesigned Model 3 is set to come with several new features that were previously only available in Tesla's higher-end models. These enhancements include ambient lighting, ventilated seats, claimed improvements in driving range, a more streamlined dashboard design, an upgraded front touchscreen display, the introduction of a rear touchscreen, and the availability of new paint colors, including the striking "ultra red." Additionally, it's worth noting that the front bumper of the new Model 3 has been slightly modified, appearing less pronounced than before.
However, while these updates may be appealing to many, some drivers might have mixed feelings about certain changes, particularly if they have a preference for cost-efficiency and a minimalist approach.
For instance, Tesla is relocating the Model 3's gear shifter to the touchscreen interface, and they are eliminating the traditional turn-signal stalks in favor of buttons on the steering wheel. This aligns with earlier rumors and leaks related to "Project Highland," which TechCrunch has previously covered.
Interestingly, it appears that the sportier version of the Model 3 will debut in Europe and the Middle East first. Tesla has already started accepting orders for this variant through its European websites, with deliveries scheduled to commence in October. This moves underscores Tesla's commitment to expanding its market presence beyond North America and introduces these exciting Model 3 updates to international customers.
Conclusion
In conclusion, Tesla's recent developments highlight the company's dynamic approach to the electric vehicle market. Price adjustments and feature enhancements for the Model 3, along with its global expansion efforts, demonstrate Tesla's commitment to staying competitive and meeting the diverse preferences of its customers.
While stock price fluctuations and regulatory investigations may bring challenges, Tesla's resilience and innovation continue to shape the future of electric mobility. As the electric vehicle landscape evolves, Tesla remains a significant player with a strong foothold in both the U.S. and international markets, setting the stage for continued growth and influence in the industry.
