Tesla Unveiled Refreshed Model 3

  • TSLA.us
    (${instrument.percentChange}%)

Updated Model 3

Under the codename Highland, Tesla Motors Inc has been working on an updated version of its Model 3 sedan, which has been in the market for six years. The company has now released the revamped version, which does not appear to be available on all regions for the time being. At the time of writing, the new version is shown on Tesla's European website [1] and on its Weibo page in China [2], but the US website still features the previous model.

The refreshed Model 3 features significant exterior changes on the front and back, with an overall more sleek and aggressive design. The interior is also updated and now sports an 8'' rear display. Range appears to have increased up to 629 km for the long-range version, according to the European website.

The Model 3 redisign is welcome, as the fleet is aged and the EV King has not released any new passenger vehicle in years. This is about to change this year though, as the company gears up to begin deliveries of its long-awaited futuristic Cybertruck, potentially within September.

The electric truck was first unveiled in late-2019, but its production has proved extremely challenging given the particular design and has been mired by multiple delays. Mr Musk had previously indicated that first deliveries could begin within the third quarter. However, he was more vague during July's earnings call of the Q2 results, saying that "we will be delivering the car this year". [3]

Tesla Motors Inc has slashed prices multiple times in order to cope with demand fears and increasing competition, which has made its cars more affordable. The big bet though is the production of an actually cheap vehicle, which was part of Musk's original Master Plan from the distant 2006 [4]. Back in March, executives had outlined a next-gen platform that will lead to a 50% reduction in costs and 40% less manufacturing footprint. This could allow Tesla to built an affordable EV, but has not provided much detail around its plans.

Why Trade Shares with FXCM?

  • $0.00 Commission*
  • Mini Shares - Fractional Share Trading with minimum trade sizes of 1/10 of a share.
  • Low Margin Requirements

Tesla is facing increasing competition from legacy automakers such as the Ford Motor Company, Volkswagen and BYD, as well as EV startups like Rivian, NIO and others. However, it remains at the pinnacle of the EV revolution, pushing on autonomous driving, solar panels and charging networks, humanoid robots, lithium refinery and more.

Nikos Tzabouras

Senior Financial Editorial Writer

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.

References

1

Retrieved 01 Sep 2023 https://www.tesla.com/en_eu/model3

2

Retrieved 01 Sep 2023 https://weibo.com/3615027564/NheSD4HN7

3

Retrieved 01 Sep 2023 https://www.youtube.com/watch

4

Retrieved 23 May 2024 https://www.tesla.com/blog/secret-tesla-motors-master-plan-just-between-you-and-me

${getInstrumentData.name} / ${getInstrumentData.ticker} /

Exchange: ${getInstrumentData.exchange}

${getInstrumentData.bid} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)

${getInstrumentData.oneYearLow} 52/wk Range ${getInstrumentData.oneYearHigh}
Disclosure
*

When executing customers' trades, FXCM can be compensated in several ways, which include, but are not limited to: spreads, charging commissions at the open and close of a trade, and adding a mark-up to rollover, etc. Commission-based pricing is applicable to Active Trader account types.

Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.

Past Performance: Past Performance is not an indicator of future results.

Spreads Widget: When static spreads are displayed, the figures reflect a time-stamped snapshot as of when the market closes. Spreads are variable and are subject to delay. Single Share prices are subject to a 15 minute delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information.