Tesla shares fell by 5% after the news about the release of the new model of the company

Tesla shares fell by 5% after the news about the release of the new model of the company

March 18, 2019 0 By autotimesnews

Tesla fans were delighted after the introduction of a completely new model, Model Y’s crossover, but the Wall Street stock market reacted the opposite: a company’s stock drop of 5% on Friday.

According to analysts of the exchange, the release of the Model Y did not become an event that would cause due surprise or surprise. Moreover, experts fear that the strong similarity between the Model 3 and the Model Y will lead to a decrease in sedan sales, which in fact eliminates the benefits of a new model.

Other analysts were unhappy with the schedule for the Model Y to enter the market, since the first deliveries to customers will start no earlier than the fall of 2020, and the baseline crossover at the most affordable price of $ 39,000 will have to wait even longer until the spring of 2021.

Although the Model Y was not impressed with Wall Street, there is little doubt that a mid-size crossover is a good idea for Tesla, since consumers around the world are moving away from sedans in favor of crossovers, and almost every brand from Ford to Ferrari has to react to it.