Europe to follow?
Tesla cut the prices of its electric cars in China and the United States this weekend. The American manufacturer is thus trying to combat disappointing sales.
Almost all Tesla models are discounted in China. The cheapest model, the Model 3, now costs just over €30,000. Prices also fell in the US, where the Model Y and Model X have never been so cheap. For example, the cheapest version of the Model Y now costs $42,990, equivalent to approximately €40,300.
The software needed to make Tesla cars drive independently is now also offered at a lower price in the US. The price of the FSD (Full Self-Driving) software has been reduced from $12,000 to $8,000, or about €7,500. American customers who purchase a new Tesla will also have the opportunity to try the software for thirty days.
Tesla’s move to cut prices of its electric cars in China threatens to unleash a new round in the country’s fierce price war. For example, Chinese competitor Li Auto immediately responded with discounts on its new models. China’s electric car price war has been raging since late 2022, when Tesla first cut prices. Over the past year, the price war has intensified as automakers struggled to meet sales targets, and this year manufacturers continue to struggle with disappointing sales. Chinese market leader BYD has therefore already significantly discounted a number of its most popular cars this year.
Tesla will release financial figures for the first quarter on Tuesday. At the beginning of this month, the American company reported that fewer than 387,000 cars had been delivered to customers in the first three months of this year. This makes it the worst quarter for Tesla in years, also due to weaker demand. On Wall Street, Tesla’s stock price has already fallen significantly this year.
– Thanks for information from Autoweek.nl