Tesla Revises Range Estimate: Model S,X,Y Variants See As Much As 37 Mile Drop
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has updated the range estimates for several variants of its Model S, X, and Y vehicles, showing reductions of up to 37 miles. The changes are reflected on Tesla's website, with the base Model Y, Long Range, and Performance versions seeing a nearly 20-mile decrease. The Model X and S have also seen similar reductions. Despite the lowered range estimates, the prices of the vehicles have not changed. Tesla has not provided an explanation for the range adjustments, and no response was given to Benzinga's inquiry at the time of publication.
January 05, 2024 | 4:48 am
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Tesla's reduction in range estimates for its Model S, X, and Y vehicles could potentially concern investors and customers, possibly affecting the stock's short-term performance.
The reduction in range estimates for Tesla's vehicles could be perceived negatively by the market as it may suggest a decrease in product competitiveness or undisclosed issues with the vehicles. This could lead to a short-term negative sentiment among investors, despite the unchanged pricing. However, without an official explanation from Tesla, the full impact remains uncertain.
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