Jeffrey Osborne

Cash, demand concerns overshadow Tesla's SUV launch

• Tesla, which introduced a cheap $35,000 (26,441 pounds) version of its Model 3 sedan last month and is struggling to convince backers its business model works, on Thursday launched the "Model Y" compact SUV - built on the same platform as the Model 3. None of the 30 analysts who cover Tesla cut their price targets or recommendations for its shares, but the slightly bleak response to the new launch underlines the ambivalence of some on Wall Street to the company after months of legal wrangling and social media outbursts by Chief Executive Officer Elon Musk. Some Wall Street analysts had raised concerns that demand for the higher-priced Model 3 was slowing down in the United States, especially after a reduction in the federal tax credit this year.