Tesla is set to report Q1 2024 financial results after the US market closes on Tuesday 4/23
News price cut by Tesla in several major markets such as the US, China and Germany as the electric car giant led by multi-billionaire Elon Musk sees sales decline.
The move comes after it reported a sharp drop in global vehicle deliveries in the first three months of this year.
As the BBC points out, the price war has intensified among electric vehicle (EV) manufacturers, with Chinese companies increasingly competitive.
Tesla is set to report financial results for the first quarter of 2024 after the US market closes on Tuesday 4/23.
In a post on the social media platform X, Musk states: “Tesla prices have to change frequently to match production with demand.”
In China, the company reduced the starting price of the refreshed Model 3 by 14,000 yuan (1,814 euros) to 231,900 yuan (30,047 euros). Prices of Model Y, Model X and Model S vehicles in the US fell by 1,877 euros on Friday.
www.bankingnews.gr
