Tesla Unveils More Affordable Model 3 & Y to Combat Competition, Sales Drop
Tesla has unveiled more affordable versions of its Model 3 and Model Y, the Model 3 Standard and Model Y Standard, in response to increased competition and loss of US subsidies. Meanwhile, CEO Elon Musk's political activities have sparked protests and vandalism at Tesla dealerships.
The new Standard models offer significant savings: the Model 3 Standard is $5,500 cheaper than the Premium version, priced at $38,630, and the Model Y Standard is $5,000 less than the Premium version, costing $41,630. Both will be available in late 2022 or early 2023.
Tesla's move comes as competition intensifies, particularly from Chinese automakers like BYD. The company reported record sales in the third quarter as buyers rushed to purchase cars before the $7,500 tax credit expired. However, sales dropped significantly in the first half of the year. Tesla has also faced protests and vandalism at dealerships due to Musk's political activities, with his split from President Donald Trump not reducing the backlash.
Tesla's introduction of more affordable Model 3 and Model Y variants aims to boost sales and compete with cheaper EV models from other automakers. Despite challenges, the company reported record sales in the third quarter. Musk's political activities continue to spark controversy, affecting dealerships.
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