As Crisis at Tesla Deepens, a Hail Mary Is Turning Out to Be a Major Bust

Tesla investors were hopeful that the latest refresh of the EV maker's bestselling Model Y would breathe new life into plummeting sales. But say it ain't so: The addition to the company's rapidly-aging lineup, which launched in January, has turned out to be a dud — at least as far as consumer interest is concerned. Rock-bottom financing deals being offered on the car indicate just how far from being a hot ticket item they actually are, as Reuters reports. In an attempt to compete, Tesla is matching other carmakers' offerings with zero percent financing, suggesting that cars' rarity has become a thing of the past as the competition is starting to grow substantially for the Elon Musk-led firm. "Why would you discount and have all these incentives and offers literally out of the gate?" EV data firm Paren chief analyst Loren McDonald told Reuters. "That just doesn't make sense when your margins are already at multiyear lows. That suggests very strongly that there is a demand problem." ... Read full article.