This article is transferred from China Auto News;
On April 21, the official website of Tesla China showed that the price of Tesla Model 3/Y/S/X was reduced by 14000 yuan in mainland China.
Among them, the sales price of Model Y dropped to 249900 yuan, the sales price of Model Y long endurance version dropped to 290900 yuan, and the sales price of Model Y high-performance version dropped to 354900 yuan. The selling price of Model S was reduced to 684900 yuan, and the selling price of Model S PLAID was reduced to 814900 yuan. The selling price of Model X was reduced to 724900 yuan, and the selling price of Model X PLAID was reduced to 824900 yuan.
At the same time, on April 20, Tesla's official website in the United States showed that the price of Model Y in the United States market was reduced by $2000, of which the price of Tesla Model Y was reduced to $42990. On the 21st, Tesla reduced the price of FSD package in the United States from 12000 dollars to 8000 dollars.
In fact, this is Tesla's second price cut since this year. The new version of Model 3 has a cumulative price cut of nearly 30000 yuan. Not long ago, the price of Tesla Model Y has just risen by 5000 yuan, less than a month before this price reduction. On April 1, Tesla China's official website showed that the price of Model Y was increased to 263900 yuan, the price of Model Y's long endurance version was increased to 304900 yuan, and the price of Model Y's high-performance version was increased to 368900 yuan.
Recently, there has been a lot of negative news about Tesla. The latest data shows that Tesla's global delivery in the first quarter did not meet expectations, and the delivery volume fell for the first time in nearly four years. On April 2, Tesla announced that 387000 cars were delivered in the first quarter, far below the 458500 expected by analysts. Tesla's gross profit rate in the fourth quarter of 2023 was 17.6%, the lowest in more than four years. Affected by poor delivery, Tesla recently announced that in order to reduce costs and improve productivity, it will cut 10% of its staff globally, and the number of layoffs will reach 14000, involving mainland China. At the same time, Tesla also reported the resignation of several executives, including Drew Baglio, the head of Tesla battery development, and Rohan Patel, the vice president in charge of public policy.
Influenced by many negative news, Tesla's share price has suffered a sharp decline recently. Up to now, Tesla's share price has closed at $147.05, with a total decline of about 14% this week and more than 40% this year. The latest total market value is 468.3 billion US dollars, which is more than 300 billion US dollars (more than 2 trillion RMB) lost compared with the end of 2023.
Some analysts said that after the unexpected decline of sales in the first quarter of 2024, Tesla's sales in the second quarter may decline again. This price cut in the Chinese and American markets also reveals the pressure Tesla is under. At the moment of increasingly fierce competition in China's new energy vehicle market, it is worth noting whether this price cut can promote Tesla's sales.
