Dow Jones futures and other major indexes remained mostly unchanged after hours, with a wave of Fed-friendly economic figures and various earnings reports affecting the stock market rally. Tesla is set to release an upgraded Model 3 in China, while Li Auto, Nio, and XPeng will report August deliveries.
Tesla has unveiled a restyled Model 3 with a longer driving range in China and other markets, putting pressure on rivals who are expected to release new electric vehicles soon.
Tesla has unveiled its updated Model 3 EV sedan in China, featuring a sportier exterior, improved battery range, and faster acceleration, although surprising many with a 12% price increase; the upgraded model is expected to boost sales and profit margins for the electric vehicle giant.
The Tesla Model Y and Model 3 are the top-selling electric vehicles in Europe, with the Model Y expected to become the most popular new passenger car by the end of the year.
Tesla has released a less expensive Model Y variant in the U.S. following a larger-than-expected decline in third-quarter deliveries, which may help increase sales but put pressure on prices and margins.
Tesla has added a cheaper Model Y RWD to its US website, with a base price of $43,990, making it potentially the cheapest Model Y available in the US, after incentives, and it is speculated that the model uses Tesla's cheaper Lithium-Iron-Phosphate (LFP) battery.
Tesla has once again reduced the prices of its Model 3 and Model Y electric vehicles, indicating a possible shift or stabilization in the EV market and a response to increasing competition and production cost reductions.
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