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Tram price war begins! Tesla cuts prices across markets in China, US, Europe to welcome the battle.

TraderKnows
TraderKnows
04-22

Tesla's stock price has steadily declined since the year's start, facing unexpected issues from production to sales. Recently, Tesla began discounting in many countries to join the price war.

In April's latest report, Tesla revealed its global delivery numbers for the first quarter, which were disappointing and led to a pessimistic sentiment towards Tesla in the market. Many institutions have predicted that Tesla will soon have to reduce its prices to alleviate the crisis, a sentiment reflected in a nearly 40% drop in its stock price.

A year ago, Tesla significantly sacrificed profits to make substantial price cuts, sparking a price war. Last Friday, Tesla's three main vehicle models, Model Y, Model X, and Model S, each saw a $2,000 price drop. Moreover, on Saturday, Tesla reduced the price of its flagship added service — autonomous driving — by one-third.

In Germany, the Model 3 rear-wheel-drive model also saw a price reduction, from the previous €42,990 to €40,990, approximately $43,670.

This Sunday, Tesla's official website announced another price reduction, this time in the Chinese market. Tesla reduced the price of the refreshed Model 3 by 14,000 yuan, making the current price 231,900 yuan, approximately $32,000.

This series of price reductions was a response to the shocking data in Tesla's recent report, which showed that Tesla's global vehicle deliveries experienced their first decline in nearly four years this quarter. Although Tesla stated that this decline was due to a variety of accidents, the market generally does not accept this explanation and tends to believe that the issue lies in the diminished appeal of older models and significant pressure from Chinese competitors.

Tesla CEO Elon Musk's planned visit to India to meet with Prime Minister Modi has been postponed. The trip was intended as preparation for entering the South Asian market, with plans to collaborate with local businesses to establish factories in India, but it now seems this plan will be delayed.

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