The Dodge Durango and Tesla Model Y, despite their differences in powertrain and weight, performed closely in a U-drag race, with the Durango slightly edging out the Model Y in a quarter-mile run.
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 officially unveiled the highly-anticipated refresh of its Model 3, including a facelifted front-end design, interior changes, increased range, and improved aerodynamics.
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.
Tesla has adjusted its plans for the next-generation electric vehicles, including the development of a fully autonomous Robotaxi and an affordable model, both to be produced on the next-generation platform; production of these vehicles will take place in Austin, Texas instead of Mexico due to the unwillingness of engineers to relocate.
Tesla is planning to build another factory and is being sought after by various locations around the world.
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 introduced a cheaper rear-wheel drive Model Y option in the US, priced at $43,990 before tax credits, making it the most affordable Model Y EV available, and it is speculated that the vehicle utilizes lithium-iron phosphate batteries which are more cost-effective but offer a slightly reduced range compared to the discontinued All Wheel Drive model.
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.
During the third quarter of 2023, Tesla improved its market share in the largest car markets globally, reaching a record of four percent in the United States/Canada, increasing sales and expecting to continue expanding its market share in the near future.
