The Malta Independent 11 November 2019, Monday

Tesla drops cheapest Model X, S variants, cuts prices to simplify lineup

Wednesday, 17 July 2019, 12:05 Last update: about 5 months ago

The Maltese market closed in the red on Tuesday, with MSE Equity Total Return Index ending the session 0.464% higher, to 9,755.370 points. Best performer was Mapfre Middlesea plc by adding 2.73% to close at 2.26, followed by Tigne Mall plc which rose 2.27% to 0.90. Bank of Valletta plc and Malta International Airport also closed on a positive note with 1.79% and 1.45% increase to close at 1.14 and 7.00 respectively. Biggest fall was seen from GlobalCapital plc. It shed 5.30% to close at 0.25, followed by RS2 Software plc which slid 1.09% to close at 1.81.

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European markets ended higher on Tuesday, with investors picking up stocks, reacting to some fairly encouraging quarterly earnings reports and other corporate news. The pan European Stoxx 600 ended higher by 0.35%. Among the major markets in Europe, Germany ended modestly higher, with its benchmark DAX gaining 0.35%. The U.K.'s FTSE 100 and France's CAC 40 moved up 0.6% and 0.65%, respectively.

U.S. stocks closed lower on Tuesday after President Donald Trump said an agreement with China on trade tariffs had “a long way to go,” in a briefing with reporters. The Dow Jones Industrial Average fell 0.1% to 27,335.6, the S&P 500 index dropped 0.3% to 3,004.00 and the Nasdaq Composite index edged 0.4% low, to 8,222.8.

Tesla drops cheapest Model X, S variants, cuts prices to simplify lineup

Tesla Inc has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the U.S. electric vehicle maker reported record deliveries.

To simplify its offerings, the automaker on Tuesday limited variants of its Model X sport-utility vehicle and Model S sedan to “Long Range” and the more expensive “Performance”. It also trimmed the price of its now entry-level Long Range variants.

The discontinuation of the standard-range variants, however, means a rise in starting prices - to $84,990 for the Model X and $79,990 for the Model S, excluding potential buying incentives.

Tesla also lowered the starting price of its mass-market Model 3 to $38,990.

The company has often adjusted price of its forthcoming self-driving features and pushed owners to buy them before delivery.

 

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, https://cc.com.mt/. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

 

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