On April 21st, Tesla China lowered prices across its entire lineup by 14000 yuan.
The official website shows that the selling price of Model Y has dropped to 249900 yuan, the selling price of Model Y Long Range Edition has dropped to 290900 yuan, and the selling price of Model Y High Performance Edition has dropped to 354900 yuan.
The selling price of Model S has dropped to 684900 RMB, and the selling price of Model S PLAID version has dropped to 814900 RMB.
The selling price of Model X has dropped to RMB 724900, and the selling price of Model X PLAID version has dropped to RMB 824900.
At the same time, Tesla's official website in China shows that the price of the updated Model 3 has dropped to 231900 yuan, and the price of the long range updated Model 3 has dropped to 271900 yuan.
At the beginning of this month, against the backdrop of numerous domestic car brands announcing price reductions, Tesla China announced a price increase. Now that the price has risen for less than a month, Tesla can't hold on anymore.
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Previously, it went against the trend and raised prices
In March of this year, amidst the escalating price war in the domestic car market, Tesla underwent a wave of reverse operations and announced that it was about to raise prices. On March 20th, a reporter from the Daily Economic News learned from the relevant person in charge of Tesla China that starting from April 1st, the selling price of Tesla Model Y will be increased by 5000 yuan. Meanwhile, Tesla's official 8000 yuan current car insurance subsidy policy for the Model Y model, as well as a maximum 10000 yuan paint reduction policy, will also expire on March 31st. "The actual maximum price increase in this price adjustment reached 23000 yuan," said the relevant Tesla China person in charge.
On April 1st, according to Tesla China's official website, the price of the Model Y rear wheel drive version was raised to 263900 yuan, the Model Y long range version was raised to 304900 yuan, and the Model Y high-performance version was raised to 368900 yuan.
Under the pressure of sales growth, Tesla is once again cutting corners on prices.
Yesterday, Tesla's official website in the United States showed that the price of the Tesla Model Y was lowered to $42990, the price of the Model Y Long Range Edition was lowered to $47990, and the price of the Model Y High Performance Edition was lowered to $51490. Tesla Model S dropped to $72990 and Model S PLAID dropped to $87990. The Tesla Model X price has dropped to $77990, while the Model X PLAID price has dropped to $92990.
According to Tesla's recently released sales data for the first quarter of 2024, the company delivered a total of 386800 vehicles worldwide during the reporting period, a year-on-year decrease of 8.5% and a month on month decrease of 20.2% compared to the fourth quarter of last year, setting a new low in the past five quarters. And this is also the first time Tesla's quarterly sales have fallen below the 400000 vehicle mark since the third quarter of 2022.
Tesla's market value has fallen by over 2 trillion yuan this year
Recently, Tesla CEO Elon Musk tweeted that he is not optimistic about the economic situation. Tesla needs to lay off about 10% of its workforce and will suspend global recruitment. If calculated based on Tesla's current global workforce of 145000, the total number of layoffs this time is 14500, which is expected to be Tesla's largest layoff since 2017.
It is reported that Tesla's layoffs are not limited to North America, but also involve Europe and Asia. Among them, in the Chinese market, the scope of layoffs involves multiple departments, and some departments have already completed their layoffs.
"I hate this decision immensely, but it is a decision that must be made to make us slimmer, hungrier, and more efficient in facing the next stage of challenges," Musk said.
Recently, analysts from about 15 institutions have lowered their 12 month target price for Tesla.
Analysts from Deutsche Bank have stated that Tesla's Q1 delivery data is even far below Wall Street's minimum expectation of 414000 vehicles. Moreover, the gap between delivery and production confirms that there may be serious demand issues beyond known production bottlenecks.
Affected by the above news, Tesla's stock price has recently experienced a sharp decline. As of Friday, Tesla's stock price closed at $147.05, with a total decline of about 14% this week and a drop of over 40% so far this year. The latest total market value is 468.3 billion US dollars, which has evaporated over 300 billion US dollars (approximately 2172.1 billion yuan) compared to the end of 2023.
A new round of "price war" among car companies has begun
In April, car companies launched a new round of "price war" to seize the market by exchanging price for quantity. According to incomplete statistics, as soon as April enters, more than 10 brands have successively launched promotional activities. In addition to price reduction, it also attracts consumers through various methods such as adding and reducing configurations, separating cars and electricity, and providing replacement subsidies.
With the launch of Xiaomi SU7, the 200000 yuan electric vehicle market has become even more intense.
On April 20th, Xiaopeng Motors announced that from now until May 5th, 2024, it will launch a limited time purchase subsidy of 500 million yuan, covering four models of Xiaopeng G9, G6, P7i, and the 2024 Xiaopeng P5.
Among them, the subsidy for Xiaopeng G9 starts at 243900 yuan for current vehicles; A limited time reduction of 20000 yuan for the entire G6 series; P7i has a maximum time limit reduction of 50000 yuan; Some cities in P5 can enjoy a zero down payment for the entire series, as well as a limited time discount of 10000 yuan. At the same time, they can also enjoy a maximum exchange subsidy of 15000 yuan for the same brand, and a maximum discount of 10000 yuan for different brands.
Not long ago, Xiaopeng Motors announced the official launch of its new 580 Long Range Plus version of its mid size SUV, Xiaopeng G6, with an official guide price of 199900 yuan. From now until April 30th, the limited time discount price is 179900 yuan.
While sales of new energy vehicles are soaring, the position of gasoline vehicles in the second-hand car market is also beginning to decline. On April 20th, "people who buy gasoline cars officially became a minority" made it to the hot search.
According to the latest data from the China Association of Automobile Manufacturers, in the first two weeks of April 2024, the national passenger car market had a retail sales volume of 516000 vehicles, of which 260000 were sold in the new energy vehicle market, with a penetration rate of 50.39%, exceeding half.