THE Tesla reduced the starting price of the renewed Model 3 in China vs 1,930 dollars at $32,000, according to its official website. In Germany, the automaker cut the price of the rear-wheel drive Model 3 to 40,990 euros, from 42,990 euros which was its price in February.
They have been too price reductions in many other countries in Europe, the Middle East and Africa. In the US, Tesla has cut the prices of its Model Y, Model X and Model S vehicles by $2,000 last Friday.
The price cuts come after Tesla reported this month that first-quarter global deliveries decreased by 8.5%at 386,810, as the US auto industry faces decrease in demand for electric vehicles and intensifier price warespecially from Chinese competitors.
Tesla lowered its price on Saturday assistance software driver it calls Full Self-Driving, or FSD, by a third to $8,000 in the US.
The managing director Elon Musk is betting that the technology will become an important one source of incomehowever has for years failed to achieve the goal of self-driving capability, with the technology coming under increasing regulatory and legal scrutiny.
In recent weeks, Tesla has released new software versions FSD and Musk stated that the company will unveil one robotaxi on August 8.
The Reuters reported on April 5 that Tesla has cancel the plans to produce one cheap electric car which investors reckoned would lead to massive growth in the robotaxi market.
Musk wrote that “Reuters is lying» after the report, without however substantiating it sufficiently. He has not spoken further about the model, leaving investors to ask for more clarity.
Musk said last Monday that Tesla will lay off more than 10% of its global workforce as it prepares for the first annual drop in deliveries in its history. As if all that wasn’t enough, the company recalled nearly 3,900 Cybertruck to repair or replace accelerator pedals that may detach and cause the vehicle to accelerate unintentionally.
Musk postponed also a planned trip to India, where he was expected to meet with Prime Minister Narendra Modi, saying he faced “heavy obligations” at Tesla.
Tesla stock is down more than 40% this year amid concern over falling sales, intensifying competition in China and Musk’s risky plan to push self-driving plans forward at all costs.
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