Tesla Implements Price Reductions in China and the United States

In a bid to bolster its market position and appeal to consumers, Tesla has recently rolled out substantial price adjustments for its vehicle lineup in both China and the United States.

In China, as shown on Tesla’s official website, the Model 3 Standard Range Plus now carries a price tag of 231,900 Chinese yuan, marking a notable 5.7% reduction. Similarly, the Model 3 Long Range is now priced at 271,900 yuan, reflecting a 4.9% decrease. The Model Y series has also seen price revisions, with the standard Model Y available at 249,900 yuan, the Long Range version at 290,900 yuan, and the Performance variant at 354,900 yuan. As for the luxury segment, the Model S is now priced at 684,900 yuan, with the Model S Plaid variant retailing at 814,900 yuan. The Model X comes in at 724,900 yuan, while the Model X Plaid is priced at 824,900 yuan.

Simultaneously, Tesla has announced a $2,000 price reduction for its models in the United States. The Model Y now starts at $42,990, with the Long Range version at $47,990 and the Performance variant at $51,490. The Model S is priced at $72,990, with the Model S Plaid at $87,990. The Model X is now available at $77,990, while the Model X Plaid comes in at $92,990.

However, despite these price adjustments, Tesla’s global delivery data for the first quarter of 2024 has shown an 8.5% year-on-year decline to 386,800 vehicles, falling short of market expectations. This marks the first quarterly decline in nearly four years and the first time since 2022 that deliveries have dipped below the 400,000 mark.

In Europe, Tesla has been faced with substantial challenges, with a 35% sales decline attributed to supply chain disruptions and factory shutdowns resulting from the tense situation in the Red Sea. A suspected arson incident further exacerbated the situation, leading to the temporary shutdown of Tesla’s factory in Germany.

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