Tesla sees 1st annual revenue drop
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Tesla CEO Elon Musk said Wednesday that the company will discontinue production of the Model S and Model X, reducing the lineup to essentially three vehicles. So, what's next?
Tesla is in the process of sunsetting two of its oldest cars, the Model X and Model S. Will the discontinuation lead to higher resale values?
Tesla ends Model S and X production to build Optimus robots, pivoting from automaker to AI and robotics firm amid its first annual revenue decline.
First introduced in 2012, the Model S plays a critical role in establishing Tesla as a serious automaker and proving that electric vehicles can deliver long range, high performance, and advanced software features.
Decreased Sales: In the Ev cars Tesla established new mile stones but in the past 2-3 years the sales of the model S and X have been declined. Shifted on AI Technology: The CEO Elon musk wants Tesla to make an AI and Robotics company in future. Hence he is also heavily investing in the same field.
The Model S sedan and Model X SUV sell in smaller quantities compared to the Model 3 and Model Y, which together represent the majority of Teslas global sales.
Tesla will discontinue the Model S and Model X in the second quarter of 2026, Elon Musk said in an earnings call with investors today. No advance word was given about the cancellations, making it an abrupt ending for Tesla’s two original flagship EVs.
One 2023 Mach-E GT owner is making waves by claiming he traded his Model 3 Performance and doesn't miss it "at all".