Tesla

In China, Tesla’s new Model Y will cost even more

Investors are still awaiting a cheaper revamp.

1/10/25 10:27AM

Tesla customers in China can soon get their hands on the long-awaited Model Y revamp, internally codenamed “Juniper.” China deliveries begin in March, while the US and elsewhere will likely take a few months longer.

The updated vehicle features a number of interior and exterior design changes, taking notes from Tesla’s 2023 Model 3 revamp and the Cybertruck.

Notably, the new model costs about 5% more than the older version in China. That’s important because investors have long been waiting for more affordable new Teslas. Last year, the EV company scrapped plans for a $25,000 model, but said it would release cheaper versions of existing models and a low-cost robotaxi instead.

The average selling price for Tesla vehicles has been coming down precipitously as the company has been offering deep discounts to move existing stock, and finagling prices to get them low enough to qualify for big federal tax credits, but that’s not quite the same as offering a mass-market car.

Tesla sales in China increased last year, though more slowly than in years past, as it struggles to compete with local companies like BYD. In the US and Europe, the company sold fewer units in 2024 than it did a year earlier. Overall, the company notched its first annual sales decline as a public company.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.