Hopes for a significant boost to Tesla's stock price were dashed this week as the much-anticipated rollout of its "lower-cost" models failed to impress investors. Despite CEO Elon Musk's assurances of increased affordability and wider market appeal, the company's shares experienced a noticeable dip following the unveiling, leaving many analysts questioning the immediate future of the electric vehicle giant. While the new models are indeed priced lower than their premium counterparts, the term "lower-cost" seems to be a relative one, with the price point still remaining a significant hurdle for many mass-market consumers - the new Model 3 Standard starts at $36,990 and the Model Y Standard at $39,990. Furthermore, critics point to a perceived lack of groundbreaking innovation in these new vehicles, suggesting they don't offer enough to differentiate them from increasingly competitive rivals in the EV space, underscoring the challenge for Tesla in balancing high-growth expectations with mass-market accessibility and profitability.
BBQ - Explain how the disappointment with the new Tesla Model 3 and Model Y could negatively affect two other elements of the marketing mix (Promotion and Place) for Tesla.
