Tesla cuts its car prices around the world after week of turmoil for the company

By Huo Jingnan
Tesla dropped its prices on cars by about $2,000 in the United States.
Tesla dropped its prices on cars by about $2,000 in the United States.

Tesla has slashed prices for its electric vehicles in the United States, China and other countries, comparisons of its websites late Friday and over the weekend show.

In the U.S., the company reduced the starting prices of its Model X, Model Y and Model S by $2,000, which is a drop of less than 5% for the most affordable model. Prices for Model 3 and Cybertruck remained the same.

In China, Tesla dropped prices for all of its models on sale there for 14,000 yuan, or just over 5% for the most affordable model. China is Tesla’s largest market outside of the United States and accounts for over a fifth of its revenue, according to the company’s latest annual report.

Stay informed on the latest news

Sign up for WPR’s email newsletter.

This field is for validation purposes and should be left unchanged.

The company also lowered the starting prices of most of its cars in Germany. A Tesla spokesperson told the Guardian and Reuters that there were price cuts in many other countries in Europe, the Middle East and Africa.

The news comes as Tesla has delivered fewer cars in the last quarter than the same quarter a year before – something that has not happened in four years. The company is expected to announce its first quarter earnings this coming Tuesday. Previously, its owner Elon Musk has spoken of competition, especially more affordable EVs models made by Chinese companies.

Tesla announced recalls laid off 10% of its staff
Copyright 2024 NPR. To see more, visit https://www.npr.org.