Tesla's stock (NASDAQ: TSLA) fell by 4% to reach $241 in pre-market trading today, Monday. This decline follows a report from Reuters revealing that the company has postponed its plans to produce a U.S.-made version of its Model Y. According to informed sources, Tesla aimed to produce 250,000 units of the cheaper version of the Model Y in the U.S. by 2026. However, the report indicated that the production process will be delayed by several months beyond the officially announced timeline, with new estimates suggesting production could start between the third quarter of 2026 and the following year. Reports indicate that the upcoming version of the Model Y will be smaller in size, and its production costs are expected to be at least 20% lower compared to the updated version of the same model. This step is part of Tesla's efforts to enhance its competitive edge in the mid-price electric vehicle market. This development comes at a time when Tesla's stock is already facing increasing market pressure, having declined by about 40% since the beginning of the year. This drop reflects investors' concerns regarding a slowdown in demand for the company’s vehicles and the challenges its manufacturing operations are facing.
