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Tesla Model 3 Threatens German Sedans Americans Already Snubbing

  • BMW 3 Series sales drop 40% in July, Mercedes C-Class fall 22%
  • Cost of upgrades keep Musk’s newest car a luxury contender
Bloomberg business news

Tesla Delivers the New Model 3, Here's a First Look

BMW AG, already struggling to stem a slide in sedan sales, will soon have another problem on its hands: Elon Musk.

The German automaker has been ceding ground in the U.S. luxury market this year to rivals Mercedes-Benz and Audi, hamstrung by plunging demand for its top-selling model, the 3 Series. That entry-level luxury sedan segment is about to be challenged further by the long-awaited Model 3 that Tesla Inc. began handing over to employees last week.