Close Menu
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Williamson still wants to play for NZ, says coach – Sport

July 10, 2025

Seed technology drives cotton mechanization in China’s Xinjiang-Xinhua

July 10, 2025

US imposes sanctions on UN’s Francesca Albanese over Israel’s criticism

July 10, 2025
Facebook X (Twitter) Instagram
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Nabka News
  • Home
  • News
  • Business
  • China
  • India
  • Pakistan
  • Political
  • Tech
  • Trend
  • USA
  • Sports
Nabka News
Home » Tesla lowers prices by nearly $2,000 in China to match US price cuts
China

Tesla lowers prices by nearly $2,000 in China to match US price cuts

i2wtcBy i2wtcApril 21, 2024No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
Follow Us
Google News Flipboard Threads
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link


Written by Hyun Joo Jin and Ethan Wang

BEIJING (Reuters) – Following price cuts in the U.S., Tesla will reduce the price of all its models by 2,000 in China in a bid to deal with declining sales of electric vehicles (EVs) and intensifying price competition, especially from cheaper Chinese EVs. The price has dropped by almost $100.

Elon Musk’s EV maker has cut the starting price of the updated Model 3 in China by 14,000 yuan ($1,930) to 231,900 yuan ($32,000), the company’s official website said on Sunday. revealed.

Tesla has similarly reduced the starting price of the Model Y to 249,900 yuan, the regular version of the Model S to 684,900 yuan, and the Model S Plaid to 814,900 yuan. The regular Model X costs 724,900 yuan, and the plaid model costs 824,900 yuan.

The automaker on Friday reduced the U.S. price of the Model Y, Model X and Model S by $2,000. On Saturday, the company lowered the price of its fully self-driving driver assistant software in the U.S. from $12,000 to $8,000.

Tesla reported this month that its first-quarter global car deliveries fell for the first time in nearly four years as price cuts failed to stimulate demand.

While rival companies are introducing lower-priced models in China, the world’s largest automobile market, the company has been slow to update its aging models as high interest rates reduce consumer appetite for expensive products. .

Musk postponed his planned trip to India this weekend to meet Prime Minister Narendra Modi, citing his Tesla obligations. The visit was also expected to include an announcement of Tesla’s plans to enter the South Asian market, Reuters reported on Saturday.

Musk announced last Monday that Tesla would lay off more than 10% of its global workforce as it braces for its first annual drop in car deliveries.

The announcement comes after Reuters reported on April 5 that Tesla had scrapped plans to develop its long-awaited affordable electric vehicle in favor of robotaxis. After the report, Musk wrote, “Reuters is lying,” without mentioning the inaccuracies. He has not said more about the model, and investors are seeking clarity.

Tesla stock has fallen 40.8% since the beginning of the year.

Starting in late 2022, Tesla triggered a price war as Musk sought to increase sales volume at the expense of margins.

(1 dollar = 7.2403 Chinese Yuan)

(Reporting by Ethan Wang, Bernard Orr, Hyun-joo Jin; Editing by Michael Perry and William Mallard)



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email WhatsApp Copy Link
i2wtc
  • Website

Related Posts

China

Seed technology drives cotton mechanization in China’s Xinjiang-Xinhua

July 10, 2025
China

China’s auto market posts strong growth in H1-Xinhua

July 10, 2025
China

In Confucius’ birthplace, global experts seek common ground for shared development-Xinhua

July 10, 2025
China

Shenzhou-19 astronauts meet press after return from space-Xinhua

July 9, 2025
China

The power games of billionaires — uncovering the political dilemma behind “America Party”-Xinhua

July 9, 2025
China

Fingerprint of innovation — a quest of China’s e-skin startup to success-Xinhua

July 9, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Williamson still wants to play for NZ, says coach – Sport

July 10, 2025

House Republicans unveil aid bill for Israel, Ukraine ahead of weekend House vote

April 17, 2024

Prime Minister Johnson presses forward with Ukraine aid bill despite pressure from hardliners

April 17, 2024

Justin Verlander makes season debut against Nationals

April 17, 2024
Don't Miss

Trump says China’s Xi ‘hard to make a deal with’ amid trade dispute | Donald Trump News

By i2wtcJune 4, 20250

Growing strains in US-China relations over implementation of agreement to roll back tariffs and trade…

Donald Trump’s 50% steel and aluminium tariffs take effect | Business and Economy News

June 4, 2025

The Take: Why is Trump cracking down on Chinese students? | Education News

June 4, 2025

Chinese couple charged with smuggling toxic fungus into US | Science and Technology News

June 4, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

About Us
About Us

Welcome to NabkaNews, your go-to source for the latest updates and insights on technology, business, and news from around the world, with a focus on the USA, Pakistan, and India.

At NabkaNews, we understand the importance of staying informed in today’s fast-paced world. Our mission is to provide you with accurate, relevant, and engaging content that keeps you up-to-date with the latest developments in technology, business trends, and news events.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Williamson still wants to play for NZ, says coach – Sport

July 10, 2025

Seed technology drives cotton mechanization in China’s Xinjiang-Xinhua

July 10, 2025

US imposes sanctions on UN’s Francesca Albanese over Israel’s criticism

July 10, 2025
Most Popular

China retaliates against US and EU over anti-dumping investigation

May 19, 2024

Analysts say China’s overcapacity is “deeply rooted” at the local level, and its ebbs and flows have supported the economy for decades.

May 21, 2024

EU automakers stall as China threatens retaliatory tariffs on luxury cars

May 22, 2024
© 2025 nabkanews. Designed by nabkanews.
  • Home
  • About NabkaNews
  • Advertise with NabkaNews
  • DMCA Policy
  • Privacy Policy
  • Terms of Use
  • Contact us

Type above and press Enter to search. Press Esc to cancel.