Tesla looks to cheaper model as revenue suffers worst drop in over a decade

Tesla has started limited production on a cheaper model in a bid to boost sluggish demand after revealing its worst slump in quarterly sales for over a decade.The electric carmaker, effectively run part-time by founder and CEO Elon Musk for much of this year after his now-defunct spell at the heart of Donald Trump's government, reported a 12% drop in revenues over the second quarter of the year. Its update showed a total of $22.5bn sales, despite aggressive discounting and low-cost financing put in place to ...