Tesla Stock Dips in Spite of News on Improved China Delivery
Tesla stock was down in premarket trading by 2%.
Tesla (NASDAQ:TSLA) will speed up turnaround times in China, with all planned delivery cycles now starting at one week, according to a Friday CnEVPost post. The Shanghai Tesla plant mainly produces the Tesla Model 3 and Model Y. On the website, Model 3 has a 1-8 week delivery time, while Model Y arrives within 6-10 weeks.
The wait time for the rear-wheel drive entry-level Model Y is still 1-4 weeks, while the anticipated delivery time for the dual-motor, all-wheel drive Model 3 Performance has been reduced from 6-10 weeks to 1-10 weeks.
Prices and other essential features for these models have not changed recently. In China, Model 3 Performance presently starts at RMB 367,900, with Model 3 starting at RMB 279,900. For RMB 316,900, RMB 394,900, and RMB 417,900, respectively, you may purchase the Model Y, Model Y Long Range, and Model Y Performance.
Tesla Stock Up As It Mulls China And Germany Strategy Changes
Prices and other essential features for these models have not changed recently. The Paper, a local news source, announced earlier today that Tesla owners who receive their deliveries between September 16 and September 30 will be eligible for an RMB 8,000 ($1,140) rebate if they decide to buy insurance through a Tesla store. According to the article, the offer is valid for all brand-new Tesla Model 3 and Model Y automobiles built in China. The subsidy for each vehicle is RMB 8,000.
A few Tesla (NASDAQ:TSLA) salespeople were quoted by The Paper as noting that only a few pre-owned Model 3 and Model Y automobiles are now on the market. The huge increase in capacity at Teslas Shanghai plant may be the cause of the ongoing reduction in the anticipated delivery time and the most recent insurance offer.
Tesla Stock Against EV Competitors
The backlog of unmet demand, however, seems to be gone. In Fridays market session, Tesla stock decreased 2.2% to 297.06 as the main indices were all sharply down. Holding above its 200-day line while toying with aggressive entry, Tesla stock (NASDAQ:TSLA) fell by 2% in premarket trading. The Nio stock dropped 2.9% to 20.89. In a market that is bottoming out, shares are running into resistance at the 200-day line. A purchasing opportunity would arise from a firm move over the 200-day moving average.
Featured Image- Megapixl @ Chatdesbalkans
Author: Jowi Kwasu
Market Jar Media Inc.
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