Apple's China business accounted for more than 17% of its sales in its fiscal second quarter, coming in at $10.22 billion.Marketsread more
Morgan Stanley caused a stir with its "bear case" scenario of $10. Now, Citi is getting in on the act.Investingread more
A federal judge grants an injunction ordering Qualcomm to renegotiate its licensing agreements.Technologyread more
China is considering cutting natural gas purchases from the U.S. in its tit-for-tat on trade, according to the South China Morning Post.Marketsread more
Treasury Secretary Steven Mnuchin is scheduled to testify before the House Financial Services Committee on Wednesday about the international financial system.Politicsread more
Such an "insurance" rate cut would provide a buffer against any economic weakness that the U.S.-China trade war could cause.The Fedread more
"I've had no conversations ever with the president or anyone in the White House about delivering the president's tax returns to Congress," Mnuchin said during a hearing before...Politicsread more
If you beat the odds and nab the top Mega Millions prize, the IRS would get more than $58 million before the windfall reaches you. You also could count on owing more at tax...Personal Financeread more
Homeowners are taking advantage of lower interest rates, rushing to refinance their mortgages before rates potentially turn higher again.Real Estateread more
If your Apple MacBook, MacBook Air or MacBook Pro isn't working right, Apple is fixing most of the models sold within the last four years for free. Here's how to get it fixed.Technologyread more
Treasury Secretary Steven Mnuchin said nothing is scheduled yet for the U.S. to go to Beijing for the next round of trade talks.Marketsread more
Tesla is reversing course and resuming sales of a lower-priced Model S that will have a smaller battery
The automaker is bringing back the 60 kWh Model S with a base price of $66,000 before federal and state tax incentives. That price is almost $4,000 below the base price of 60 kWh Model S sold between 2012 and 2015.
Unlike the previous version of the small battery Model S, this one comes with a unique feature Tesla believes will make it more attractive. The electric car will actually have a 75 kWh battery pack, so customers who want more range can pay for a software update that will unlock more power in the battery pack. The price of that software update has not been announced.
So why is Tesla bringing back a lower-priced Model S?
The company says it's responding to customer demand.
"We've heard from a number of people who would like to buy a Model S, but can more easily afford it only at a lower price point," said Tesla spokesperson Alexis Georgeson.
That's a change from last year, when Tesla stopped offering a 60 kWh Model S, in part because sales of the smaller battery car were limited. At the time, some analysts estimated just 10 percent of the Model S sedans sold had the smaller battery pack.
With an estimated range of at least 200 miles, the new 60 kWh Model S comes at a time when Tesla is rapidly expanding production. Last year, Tesla sold just over 50,000 vehicles and set a target of delivering at least 80,000 vehicles this year. By 2018, Tesla expects to build 500,000 annually, with most of those being the Model 3, which is set to go on sale late next year with a base price of $35,000.
Questions? Comments? .