Tesla Model Y Performance Takes Another Hit: Estimated Range Now Down 24 Miles Since Year Started
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has reduced the estimated range of its Model Y Performance variant by 6 miles, now totaling a 24-mile reduction since the start of the year. The EPA estimated range is now 279 miles, down from 303 miles. This adjustment is attributed to vehicle enhancements and updated EPA testing guidance. Additionally, Tesla faces lawsuits alleging false advertising of vehicle ranges, with plaintiffs directed to individual arbitrations.
March 08, 2024 | 8:14 am
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NEGATIVE IMPACT
Tesla Inc's Model Y Performance variant sees a further range reduction, with ongoing lawsuits alleging false advertising of vehicle ranges.
The reduction in the estimated range of Tesla's Model Y Performance variant could negatively impact consumer perception and sales, potentially affecting Tesla's stock price in the short term. The ongoing lawsuits alleging false advertising add to the negative sentiment, although the outcome is uncertain. The combined effect of these factors is likely to exert downward pressure on TSLA's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100