Tesla's price move in US and Europe. Aim: Drive up sales
1 year, 11 months ago

Tesla's price move in US and Europe. Aim: Drive up sales

Hindustan Times  

Tesla has slashed prices on its electric vehicles in the United States and Europe by as much as 20%, extending a strategy of aggressive discounting after missing Wall Street estimates for 2022 deliveries. Read here: Elon Musk's net worth down by $182 billion since November 2021, 'worst loss' in history The move, which prompted a 3.8% fall in Tesla's shares in Frankfurt, came after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower vehicle pricing to sustain volume growth at the expense of profit. Tesla also cut prices for its Model X luxury crossover SUV and Model S sedan in the United States. Read here: Tesla sold a record 1.3 million vehicles last year Tesla's Model 3 was the best-selling electric vehicle in Germany last month, followed by the Model Y, beating Volkswagen's all-electric ID.4.

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History of this topic

The EV Buyer’s Guide to an Uncertain Future
1 month ago

The EV Buyer’s Guide to an Uncertain Future

Wired  

It’s a confusing time to be a prospective electric vehicle buyer. Power earlier this year that they’re “overall likely” to consider going electric; 24 percent said they were “very likely.” EVs are definitely better for the environment, they generally cost less to maintain and fuel, and drivers report they’re very fun behind the wheel. Reuters first reported that officials with …

The withering dream of a cheap American electric car
1 month, 1 week ago

The withering dream of a cheap American electric car

Live Mint  

The dream of a $25,000 electric vehicle for U.S. drivers is in trouble. Musk isn’t alone in taking a sour view of making a cheap EV for the U.S. “That market sucks,” Peter Rawlinson, chief executive of Lucid Motors, told me and my colleague Christopher Mims for our new podcast, called “Bold Names.” Lucid which has begun taking orders for …

Trump may end the $7,500 EV tax credit. Elon Musk and Tesla would reap the rewards
1 month, 1 week ago

Trump may end the $7,500 EV tax credit. Elon Musk and Tesla would reap the rewards

CNN  

New York CNN — The $7,500 tax credit for buyers of electric vehicles could be vanishing early in the new Trump administration, but that might actually be good news for Tesla and its CEO Elon Musk, one of President-elect Donald Trump’s most prominent backers. ‘It will only help Tesla’ Musk signaled during the campaign that he would support ending the …

Elon Musk's Tesla hits $1 trillion market value after Trump win
1 month, 2 weeks ago

Elon Musk's Tesla hits $1 trillion market value after Trump win

India Today  

Tesla's market value closed above the $1 trillion mark in a sharp rally on Friday, on expectations that CEO Elon Musk's companies will get favourable treatment under President-elect Donald Trump for his extensive support during the poll campaign. "Tesla and CEO Elon Musk are perhaps the biggest winners from the election result, and we believe Trump's victory will help expedite …

Tesla suffers first drop in UK sales since 2013
2 months, 1 week ago

Tesla suffers first drop in UK sales since 2013

The Telegraph  

Tesla’s UK revenues have fallen for the first time in more than a decade as Elon Musk’s electric car company grapples with a slowdown in demand. The drop in sales brings the company’s recent momentum to a halt in the UK, where it has enjoyed constant sales growth since 2013. Mr Musk’s business is also facing questions about its ageing …

Tesla sales fall in Q2 despite price cuts
5 months, 3 weeks ago

Tesla sales fall in Q2 despite price cuts

Associated Press  

DETROIT — Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall. AP AUDIO: Tesla sales fall for second straight quarter despite price cuts, but decline not as bad as expected AP correspondent Tom Krisher reports Tesla sale numbers may be …

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles
8 months ago

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles

Hindustan Times  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles
8 months ago

Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles

Associated Press  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits
8 months ago

Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits

LA Times  

Tesla said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Tesla’s first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker’s revenue and profit margins. Tesla said in a letter to investors Tuesday that its vehicle sales growth “may be notably …

Tesla cuts prices amid global challenges
8 months ago

Tesla cuts prices amid global challenges

China Daily  

This file photo taken on Jan 12, 2018, shows a Tesla logo seen in Los Angeles, California, the US. The world's largest EV maker by volume, which is owned by the technology billionaire Elon Musk, said it would reduce prices in all of its major markets, which include the US, Germany, and China. The Chinese smartphone maker Xiaomi has also …

Tesla cuts prices globally after Cybertruck recall and stock downturn
8 months ago

Tesla cuts prices globally after Cybertruck recall and stock downturn

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The price reduction came after Tesla’s stock dropped below $150 per share on Friday and wiped out …

Tesla cuts the price of its “Full Self Driving” system by a third to $8,000
8 months ago

Tesla cuts the price of its “Full Self Driving” system by a third to $8,000

Associated Press  

NEW YORK — Tesla knocked roughly a third off the price of its “Full Self Driving” system — which can’t drive itself and so drivers must remain alert and be ready to intervene — to $8,000 from $12,000, according to the company website. The cuts, which occurred on Saturday, follow Tesla’s moves to slash $2,000 off the prices of three …

Tesla cuts China, US prices after slow sales, rising inventories
8 months ago

Tesla cuts China, US prices after slow sales, rising inventories

Hindustan Times  

Elon Musk-led Tesla has slashed prices in China and the United States following a disappointing first quarter sales that led to a swelling inventory. In the United States, the cheapest version of Tesla's Model Y is priced at $42,990 Recently, Elon Musk in a memo to 1.40 lakh company employees announced that he was reducing workforce by more than 10 …

Tesla knocks $2,000 off prices for 3 EVs after shares crash 39% YTD on falling sales
8 months ago

Tesla knocks $2,000 off prices for 3 EVs after shares crash 39% YTD on falling sales

Live Mint  

Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. The company cut the prices of the Model Y, a small SUV which is Tesla's most popular model and the top-selling electric vehicle in the US, and …

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
8 months ago

Tesla cuts US prices for 3 of its electric vehicle models after a difficult week

Associated Press  

Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. The company cut the prices of the Model Y, a small SUV which is Tesla’s most popular model and the top-selling electric vehicle in the U.S., and …

Tesla shares tumble below $150 per share, giving up all gains made over the past year
8 months ago

Tesla shares tumble below $150 per share, giving up all gains made over the past year

Associated Press  

Tesla’s stock tumbled below $150 per share, giving up all of the gains made over the past year as the electric vehicle maker reels from falling sales and steep discounts intended to lure more buyers. Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. Dan Ives, …

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn
8 months, 1 week ago

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn

Live Mint  

Tesla share price extended fall for 2024, pushing its market valuation briefly below $500 billion amid a round of job cuts this week underscoring that the company’s growth has slowed. Tesla shares have not closed with a market value under $500 billion since late April last year and stayed narrowly above the mark as of Tuesday’s close, Bloomberg News reported. …

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?
8 months, 1 week ago

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?

Daily Mail  

Elon Musk's announcement that Tesla will lay off ten percent of its workforce shocked many but it may be inline with figures that suggest the global demand for electronic vehicles is slumping across the world. In the first quarter of 2024, the two biggest manufacturers of electronic vehicles, Tesla and its Chinese rival BYD reported dramatic sales drops compared against …

Tesla pulls a U-turn on affordable vehicle plans
8 months, 2 weeks ago

Tesla pulls a U-turn on affordable vehicle plans

China Daily  

Tesla showcases its models at the Beijing auto show in 2020. As recently as January, Musk told investors that Tesla planned to start production of the affordable model at its Texas factory in the second half of 2025, following an exclusive Reuters report detailing those plans. A fourth person with knowledge of Tesla's plans expressed optimism about the decision to …

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call
10 months, 4 weeks ago

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call

Firstpost  

The stock value of Tesla saw a significant dip of just over 12% on Thursday following remarks by CEO Elon Musk highlighting the challenges posed by Chinese electric-car manufacturers, whom he referred to as “the most competitive car companies in the world.” During Tesla’s earnings call on Wednesday, Musk praised Chinese carmakers such as BYD, Geely, and SAIC, emphasizing their …

Tesla hit by first ever drop in annual profits amid electric car price war
11 months ago

Tesla hit by first ever drop in annual profits amid electric car price war

The Telegraph  

Tesla has recorded its first ever drop in annual profits as it suffers the effects of an electric vehicle price war orchestrated by its chief executive, Elon Musk. It caps a challenging year for Tesla and Mr Musk, in which the company has been overtaken as the world’s best-selling electric car manufacturer by China’s BYD and its chief executive has …

Elon Musk’s Tesla loses $94 billion in market valuation as global EV market slows down
11 months, 1 week ago

Elon Musk’s Tesla loses $94 billion in market valuation as global EV market slows down

Firstpost  

Tesla, after a stellar 2023 where its shares more than doubled, is facing a rocky start to 2024, marking its worst beginning to any year in its history. Tesla’s market capitalization has taken its biggest hit since going public in 2010, with a 12% drop since the start of January, the largest in percentage terms since 2016. Despite Tesla’s recent …

Tesla slashes prices in China, struggling to keep a competitive edge in luxury EVs segment in booming market
11 months, 1 week ago

Tesla slashes prices in China, struggling to keep a competitive edge in luxury EVs segment in booming market

Firstpost  

Tesla has implemented price cuts of up to 6 per cent on its Shanghai-manufactured vehicles as it seeks to maintain its dominant position in the premium segment of the world’s largest electric vehicle market. These adjustments follow Tesla’s month-on-month sales growth of 15.7 per cent to 75,805 units in mainland China in December, according to data from the China Passenger …

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows
11 months, 3 weeks ago

Price cuts boost Tesla’s 4Q sales, beating estimates as electric vehicle growth rate slows

Associated Press  

DETROIT — Steep price cuts helped electric vehicle maker Tesla Inc. increase its fourth-quarter vehicle sales by almost 20% as EV sales growth slowed across the industry. Full-year sales numbers fell far short of CEO Elon Musk’s prediction of 50% sales growth in most years. Industry analysts expect the price cuts to trim Tesla’s profit margins when it reports earnings …

Elon Musk-led Tesla to launch its cheapest EV in Germany, followed by India, to cost 25,000 Euros
1 year, 1 month ago

Elon Musk-led Tesla to launch its cheapest EV in Germany, followed by India, to cost 25,000 Euros

Firstpost  

Elon Musk’s Tesla is set to launch its cheapest EV soon. Tesla is also set to start importing its EV in India soon Elon Musk’s EV company Tesla is set to introduce its most affordable model, priced at 25,000 Euros, as a two-door car in Germany, as per a report by Moneycontrol. While specific details about the models intended for …

Tesla prices now rival average U.S. cars after billions in cuts
1 year, 2 months ago

Tesla prices now rival average U.S. cars after billions in cuts

LA Times  

Some see Tesla’s price cuts as the cost of propping up demand after Chief Executive Officer Elon Musk’s acquisition of Twitter — now X Corp. — and his increasing engagement with right-wing politics. Black has used his widely followed social media account on X, formerly known as Twitter, to advocate for Tesla to spend money on traditional advertising campaigns rather …

Super Tesla, Super Elon Musk: EV maker earned over $25 bn last quarter, despite lowering margins
1 year, 5 months ago

Super Tesla, Super Elon Musk: EV maker earned over $25 bn last quarter, despite lowering margins

Firstpost  

Despite falling margins, Tesla had a blast in the last quarter, where it made over $25 billion. Tesla may very well become the most profitable car maker soon, as it is set to meet its projections this year, which will only be boosted by the Cybertruck Tesla made $2.7 billion in profit during the second quarter, which is 20 per …

Tesla’s surprising new route to EV domination
1 year, 5 months ago

Tesla’s surprising new route to EV domination

Hindustan Times  

IN 2011 TESLA stated an aim of becoming “the most compelling car company of the 21st century, while accelerating the world’s transition to electric vehicles”. Mr Musk’s ambition to dominate the auto business—making 20m cars a year by 2030, double the current output of today’s top manufacturer, Toyota, and creating the go-to self-driving system—certainly compels investors, who value Tesla at …

Tesla shares accelerate toward $300 on spike in deliveries and charging deal with major automakers
1 year, 5 months ago

Tesla shares accelerate toward $300 on spike in deliveries and charging deal with major automakers

Associated Press  

Tesla is roaring back from a dismal 2022 as company shares, which have already doubled this year, were driven higher Monday by a spike in second-quarter deliveries. Shares jumped 7% to a new high for 2023 after the electric car maker said its deliveries in the most recent quarter rose 83% compared with the same period last year. Shares were …

Tesla sales jump 83% from a year ago as tax credits, broader adoption drive sales
1 year, 5 months ago

Tesla sales jump 83% from a year ago as tax credits, broader adoption drive sales

Associated Press  

DETROIT — Tesla’s second-quarter deliveries rose 83% from a year ago after the company cut prices several times on its four electric vehicle models and buyers took advantage of U.S. government tax credits. But the price cuts, both for special orders and on existing inventory, raised questions from analysts who expect the cuts to reduce Tesla’s profit margins when it …

Price war? Tesla drops the Model Y starting price below the average U.S. vehicle cost
1 year, 7 months ago

Price war? Tesla drops the Model Y starting price below the average U.S. vehicle cost

LA Times  

Elon Musk has been slashing Tesla prices in his quest to seize even more of the U.S. sport utility vehicle market. Tesla Inc. is now charging less for the cheapest version of the Model Y sport utility vehicle than what the typical new vehicle sells for in the U.S., a threshold Elon Musk crossed in blazing fashion. Ford Motor Co. …

Price cuts cause Tesla 1Q income, profit margins to fall
1 year, 8 months ago

Price cuts cause Tesla 1Q income, profit margins to fall

Associated Press  

DETROIT — Tesla’s first-quarter net income tumbled 24% from a year ago as multiple price cuts across its model lineup reduced the amount of money generated per vehicle even as sales rose. The net income drop came even though Tesla’s sales last quarter rose 36% to a record 422,875 vehicles worldwide. “Although we implemented price reductions on many vehicle models …

Tesla’s margins drop on aggressive discounting, shares fall
1 year, 8 months ago

Tesla’s margins drop on aggressive discounting, shares fall

Live Mint  

Tesla Inc missed market estimates for first-quarter margin on Wednesday, throttled by a series of aggressive price cuts meant to spur demand in a sagging economy and fend off rising competition. Finance chief Zachary Kirkhorn promised in January that Tesla would not go below automotive gross margins of 20% and an average selling price of $47,000 across models. The electric-vehicle …

Tesla cuts U.S. prices again ahead of 1Q earnings release
1 year, 8 months ago

Tesla cuts U.S. prices again ahead of 1Q earnings release

Associated Press  

DETROIT — Tesla dropped the starting prices for its two top-selling models overnight, the company’s fourth price cut in the U.S. this year. The company lopped $3,000, or about 6%, off the starting prices for all three versions of the Model Y small SUV, Tesla’s top-seller. Tesla could have cut the Model 3 prices to make more cars loaded with …

Tesla slashes U.S. prices again
1 year, 8 months ago

Tesla slashes U.S. prices again

LA Times  

Tesla is dropping prices for the fourth time since late last year in an apparent effort to attract new buyers. Tesla dropped the starting prices for its two top-selling models overnight, the company’s fourth price cut in the U.S. this year. The company lopped $3,000, or about 6%, off the starting prices for all three versions of the Model Y …

These are the EV models that will get you the full $7,500 tax credit
1 year, 8 months ago

These are the EV models that will get you the full $7,500 tax credit

LA Times  

The Ford F-150 Lightning displayed at the Philadelphia Auto Show. The electric pickup truck is one of just 10 models of electric and plug-in hybrid models that will qualify for the full $7,500 tax credit under President Biden’s new EV rules. They are: Chrysler Pacifica Ford F-150 Lightning pickup Lincoln Aviator Grand Touring Cadillac Lyriq Tesla Model 3 Tesla Model …

Tesla cuts prices on all models, 3rd cut this year
1 year, 8 months ago

Tesla cuts prices on all models, 3rd cut this year

Associated Press  

DETROIT — Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to lure more buyers amid rising interest rates. The largest of the cuts that appeared Friday on Tesla’s website were $5,000 per vehicle for the company’s slower-selling more expensive models, the S large sedan and the X …

Tesla cuts prices on all models for 3rd time this year
1 year, 8 months ago

Tesla cuts prices on all models for 3rd time this year

LA Times  

Tesla is dropping prices for the third time since late last year in an apparent effort to attract new buyers. Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to attract more buyers amid rising interest rates. The largest of the cuts that appeared Friday on Tesla’s website …

Tesla sales rise 36% in first quarter, following price cuts
1 year, 8 months ago

Tesla sales rise 36% in first quarter, following price cuts

Associated Press  

DETROIT — Tesla’s first-quarter vehicle sales rose 36% after the company cut prices twice in a bid to stimulate demand. In a note to investors Sunday, Jefferies analyst Philippe Houchois wrote that Tesla’s “excess production over deliveries” will keep the debate going over whether there’s demand weakness or if the price cuts will raise demand. During Tesla’s investor day event …

Many electric vehicles to lose big tax credit with new rules
1 year, 8 months ago

Many electric vehicles to lose big tax credit with new rules

Associated Press  

WASHINGTON — Fewer new electric vehicles will qualify for a full $7,500 federal tax credit later this year, and many will get only half that, under rules proposed Friday by the U.S. Treasury Department. The new rules take effect April 18 and are aimed at reducing U.S. dependence on China and other countries for battery supply chains for electric vehicles. …

Why car prices are still so high — and why they are unlikely to fall anytime soon
1 year, 9 months ago

Why car prices are still so high — and why they are unlikely to fall anytime soon

NPR  

Why car prices are still so high — and why they are unlikely to fall anytime soon Enlarge this image toggle caption Justin Sullivan/Getty Images Justin Sullivan/Getty Images It has been nearly three years since auto plants around the world started to shut down because of the pandemic. Enlarge this image toggle caption Mario Tama/Getty Images Mario Tama/Getty Images Supply …

Elon Musk unveils exciting details on Tesla’s upcoming small electric car
1 year, 9 months ago

Elon Musk unveils exciting details on Tesla’s upcoming small electric car

Live Mint  

Tesla CEO Elon Musk is eager to expand the company's reign in the electric vehicle market by offering a diverse range of products, including a more affordable EV. Although he had previously stated his desire for a product cheaper than the current most affordable Tesla Model 3, Musk has now shared crucial details about the upcoming smaller EV. According to …

Tesla price cuts: Flagging demand or tactic to boost sales?
1 year, 9 months ago

Tesla price cuts: Flagging demand or tactic to boost sales?

Associated Press  

DETROIT — In explaining why Tesla Inc. keeps cutting prices on its electric vehicles, the auto industry is pretty much divided into two camps. The company is sending a message to rivals that “you have to offer the best technology at a compelling price while keeping your costs down.” Goldstein said he doesn’t foresee additional Tesla price cuts this year, …

Tesla Model Y price drops by £2,770 as Elon Musk slashes prices again
1 year, 9 months ago

Tesla Model Y price drops by £2,770 as Elon Musk slashes prices again

The Telegraph  

Elon Musk’s Tesla has cut the price of its cars in the UK for the second time this year in an effort to boost demand. The Model Y was the sixth best selling car in Britain last month, according to figures released by the Society of Motor Manufacturers and Traders. Across the market, UK car sales leapt by more than …

Tesla hikes price of Model Y after US alters tax credit rule
1 year, 10 months ago

Tesla hikes price of Model Y after US alters tax credit rule

Associated Press  

DETROIT — Tesla has raised prices on its Model Y in the U.S., apparently due to rising demand and changes in U.S. government rules that make more versions of the small SUV eligible for tax credits. The moves, made Friday, come three weeks after Tesla cut prices nearly 20% on some versions of the Model Y, the company’s top-selling vehicle. …

Tesla made an annual profit of $12.6 billion in 2022, expects strong demand in 2023
1 year, 10 months ago

Tesla made an annual profit of $12.6 billion in 2022, expects strong demand in 2023

Firstpost  

Tesla on Wednesday posted record net income in the fourth quarter of last year, and the company predicted that additional software-related profits will keep its margins higher than any other automaker. CEO Elon Musk said that despite price cuts of up to 20 per cent on some of its vehicles announced earlier this month, demand for Tesla products is strong …

Tesla uses its profits as a weapon in an EV price war
1 year, 11 months ago

Tesla uses its profits as a weapon in an EV price war

Live Mint  

Tesla Inc earns more money for every vehicle it sells than any of its global rivals. Tesla, once one of the auto industry's biggest money losers, has over the past year built a commanding lead over most major rivals in profit per vehicle, a Reuters analysis of industry data shows. Tesla earned $15,653 in gross profit per vehicle in the …

Tesla cuts vehicle prices in bid to boost flagging demand
1 year, 11 months ago

Tesla cuts vehicle prices in bid to boost flagging demand

Associated Press  

DETROIT — With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. Many investors fear that Tesla’s sales slowdown will persist and have grown concerned about the erratic behavior of …

Tesla Slashes Vehicle Prices In Bid To Boost Flagging Demand
1 year, 11 months ago

Tesla Slashes Vehicle Prices In Bid To Boost Flagging Demand

Huff Post  

LOADING ERROR LOADING DETROIT — With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. Far from pleasing investors, the sharp price cuts sent Tesla shares down nearly 4% in …

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