Musk Puts Brakes On Anticipated Tesla Model Y Refresh: 'No Model Y 'Refresh' Is Coming Out This Year'
Portfolio Pulse from Bibhu Pattnaik
Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk announced that there will be no refreshed Model Y this year. Despite continuous improvements to their vehicles, Tesla faces challenges with high interest rates and competition from more affordable models in China. The company's global vehicle deliveries dropped in Q1 2024, the first decline in nearly four years. Tesla's new financing offer for the Model Y aims to boost demand.
June 09, 2024 | 7:21 pm
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Tesla will not release a refreshed Model Y this year, which may impact consumer interest and sales. The company faces challenges from high interest rates and competition from more affordable models in China. Q1 2024 vehicle deliveries have already declined.
The lack of a refreshed Model Y could reduce consumer interest and sales, especially amid high interest rates and competition from more affordable models in China. The decline in Q1 2024 deliveries further underscores the challenges Tesla faces.
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