According to the US financial magazine Barron's (Barron's) reported on October 6 local time, Tesla announced that it would lower the price of its Model 3 and Model Y models in the United States. In the secondary market, the price cut news dragged down Tesla's share price by about 2% at the beginning of the US stock market, and as the US bond yield fell sharply, Tesla finally closed up 0.18% to $260.53 / share.

According to Tesla's website, the starting price of the standard Model 3 has been lowered to $38,999 from the previous $40,240; The long-life version starts at $45,999, down from $47,240; The high-performance version starts at $50,999, down from $53,324. The Model Y high performance version starts at $52,490, down from $54,490; The long-life version starts at $48,490, down from $50,490.
On October 2, Tesla released its production and delivery report for the third quarter of 2023. In the third quarter of this year, Tesla produced a total of 430,500 electric vehicles and delivered 435,100 electric vehicles, below the consensus market forecast of 455,000 vehicles. Of these, 13,688 models of Model S and Model X were produced and 15,985 were delivered. Model 3 and Model Y production was 416,000 vehicles, with 419,100 deliveries.
Starting at the end of last year, Tesla began to lower the price of cars globally to stimulate market demand, but the successive price cuts are affecting Tesla's profit margins.
Tesla CEO Elon Musk has made no secret that Tesla wants to pursue higher sales this year, not higher profit margins. It is reported that in 2022, Tesla's profit margin is about 17%. Wall Street analysts expect Tesla's profit margin to be 10% in 2023 and 15% in 2024.