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Tesla has slashed prices for its Model 3, offering the lowest price ever as it tries to boost sales in the face of sluggish demand for electric vehicles (EVs). This move comes as buyers' interest in EVs proves to be shallower than expected, raising questions about the industry's long-term growth potential. Concerns such as cost, range, available charging infrastructure, and environmental impact have weighed on consumers' decision to purchase fully electric vehicles or plug-in hybrids. The retail market share held by EVs has leveled out at around 9% for several months, highlighting a potential challenge for the industry. Meanwhile, Fisker, a rival to Tesla, aims to outdo the company on a key feature. Investors are closely watching Tesla's earnings, particularly margins, deliveries, and progress in self-driving technology.
"The share of the retail market held by EVs has leveled out at around 9% for the past several months...raising broader questions about whether the industry is confronting a short-term blip or a more protracted challenge." @McLainSean https://t.co/OcJKxUwb4y
Fisker looks to outdo Tesla, other EV rivals on a key feature https://t.co/JuH7nu0K7L
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Consumers aren't adopting EVs as much as automakers hoped - yup, intense focus on securing supply chains coming at the expense of adoption: https://t.co/Hw3o4l4UzS
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Consumers say concerns such as cost, range, available charging infrastructure, and environmental impact weighed on their decision of whether or not to purchase a fully electric vehicle or plug-in hybrid. https://t.co/ds4gLQfaYi https://t.co/WzTfhtkvUV
MyPOV: market realities trump ideological ESG policies. Automakers Have Big Hopes for EVs; Buyers Aren’t Cooperating https://t.co/84lnroUHT8
Buyers’ interest in electric vehicles is proving shallower than expected. Here's what that means for the auto industry’s push to boost sales. https://t.co/d8HbOsS32B https://t.co/d8HbOsS32B
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Tesla Model 3 now available at the lowest price it has ever been https://t.co/VrMsDhNkuq