A pared-down Model Y might do little to lift Tesla sales. To really get people excited about the brand again, Tesla needs “actual new vehicle models,” one analyst said.

Tesla saw a 17% growth in its services business, but it was not enough to close the gap in falling EV sales, fewer regulatory credits, and a decline in solar and energy storage sales.

Good morning. Tesla falls short of Wall Street estimates as scandal and competition take a toll. Adani Group scraps its super app ambitions. And Nintendo’s Switch 2 notches another high score. Listen to the day’s top stories.