Tesla launches new Model 3 in China with higher price tag
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UBS cuts estimates on Renault and Volkswagen as Chinese competition rises
September 1, 2023 8:21 AM EDTUBS downgraded French automaker, Renault to a Sell rating (From Neutral) and cut their 12-month price target on the automotive stock to 31.00 (From 42.00) as competition from Chinese rivals intensifies.
UBS anticipates continued robust financial performance in the upcoming quarters with the potential for additional positive surprises. However, it is noteworthy that most indicators have ceased to show improvement. An analysis by UBS, including the examination of the BYD teardown Q-Series, leads analyst David Lesne to believe that legacy automakers... More
Tesla (TSLA) cuts prices in China, releases refreshed Model 3
September 1, 2023 7:51 AM EDTShares of Tesla (NASDAQ: TSLA) are up 0.16% in pre-market trading Friday morning after the company announced that they have once again cut prices in China.
The electric automaker announced that they have slashed prices for their premium Model S and Model X vehicles sold in China by between 14% and 21%, according to its official website.
The company also revealed Friday their redesigned Model 3, which is manufactured in China and boasts... More
