Just a few days after the release of the Tesla Model 3 high-performance version, Tesla announced a price increase. It is worth noting that a week ago, some Tesla models had just finished lowering their prices.
According to China Business Daily, in response to Tesla's recent frequent price adjustments, Tesla CEO Musk stated that the dealer model cannot provide the same price transparency as the direct sales model, and the suggested retail price of car manufacturers usually differs from the actual transaction price. Other car manufacturers are also constantly adjusting product prices, usually through dealer markups or through incentives provided by manufacturers. He believes, "Tesla's prices must be constantly adjusted to ensure that production matches market demand."
According to brokerage firm China, on April 26th local time, the US automotive safety regulatory agency announced that it has begun a new investigation into Tesla. This survey covers Model Y, X, S, 3, and Cyber truck vehicles equipped with an assisted driving system Autopilot produced in the United States from 2012 to 2024.
In addition, on April 26th, according to the latest regulatory disclosure, former Tesla Senior Vice President Drew Baglino, who announced his resignation earlier in April, sold approximately 1.14 million shares of the company, totaling approximately $181.5 million (approximately RMB 1.32 billion).
Urgent, Tesla frequently adjusts prices?
On April 27th, Tesla's US official website showed that the price of the high-performance version of the Tesla Model 3 was raised from $52990 to $53990, with an increase of $1000 (approximately RMB 7247).
On April 23rd local time, Tesla's US official website showed that the new high-performance version of the Model 3 was officially launched, priced at $52990. Musk said, "This new car not only has a more aggressive appearance than the standard Model 3, but also will surpass the Porsche 911 in terms of speed."
(Tesla official website)
It is worth noting that a week ago, some Tesla models had just completed price reductions, with price reductions of $2000 (approximately RMB 15000).
According to Tesla's US official website on April 20th, the price of Tesla Model Y has been lowered to $42990, the price of Model Y Long Range Edition has been lowered to $47990, and the price of Model Y High Performance Edition has been 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 a report by China Business Daily on April 24th, in response to Tesla's recent frequent price adjustments, Tesla CEO Musk stated that the dealer model cannot provide the same price transparency as the direct sales model, and the suggested retail price of car manufacturers usually differs from the actual transaction price. Other car manufacturers are also constantly adjusting product prices, usually through dealer markups or through incentives provided by manufacturers. He believes, "Tesla's prices must be constantly adjusted to ensure that production matches market demand."
Tesla, under investigation!
Let's take a look at some other news about Tesla.
On April 26th local time, the US automotive safety regulatory agency announced that it has begun a new investigation into Tesla. This survey covers Model Y, X, S, 3, and Cyber truck vehicles equipped with an assisted driving system Autopilot produced in the United States from 2012 to 2024.
It is reported that the main reason for Tesla's investigation is that multiple collision accidents occurred after the vehicle was recalled and software updates were carried out, and the preliminary test results of regulatory agencies have also raised concerns.
According to brokerage firm China, the National Highway Traffic Safety Administration (NHTSA) of the United States stated that Tesla announced a recall of over 2 million vehicles in December 2023 and upgraded the features of its assisted driving system Autopilot, but they questioned whether this was safe enough.
After concluding its three-year investigation into Autopilot, NHTSA conducted a new investigation, stating that it found evidence that "Tesla's weak driver engagement system is not suitable for Autopilot's relaxed operational capabilities," leading to "serious security vulnerabilities.".
Tesla announced in December 2023 that it will implement its largest ever recall action, involving 2.03 million American cars, almost all Tesla cars on American roads, with the aim of better ensuring drivers focus when using its advanced driving assistance systems.
At that time, Tesla stated that the software system control of Autopilot "may not be sufficient to prevent driver misoperation" and may increase the risk of collisions.
US regulatory agencies revealed on Friday that in the first Autopilot safety investigation launched in August 2021, at least 13 Tesla accidents were found, resulting in one or more fatalities and multiple serious injuries. Among them, "foreseeable driver abuse of the system played a significant role.".
NHTSA also expressed concern about the name of Tesla Autopilot, which "may make drivers believe that the auto drive system has more powerful functions than it, and cause drivers to over trust automation".
Tesla did not immediately respond to comment on this.
At the same time, a news about Tesla's reduction in holdings has also attracted attention.
Sudden sell-off
On April 26th, according to the latest regulatory disclosure, former Tesla Senior Vice President Drew Baglino, who announced his resignation earlier in April, sold approximately 1.14 million shares of the company, totaling approximately $181.5 million (approximately RMB 1.32 billion).
The document shows that Drew Baglino has previously reduced its holdings of Tesla shares twice, with a total value of approximately $4 million.
It is reported that Baglino joined Tesla in 2006 and first served as an engineer. He was promoted to Senior Vice President in 2016 and reported directly to Tesla CEO Musk. In the eyes of many employees, he is seen as an informal operations manager.
It is worth noting that since the beginning of this year, Tesla has been experiencing a continuous sell-off trend, with its stock price plummeting all the way. On April 22nd local time, the stock price briefly dropped to $138.8, the largest drop of over 44% for the year.
Last week was a difficult week for Tesla shareholders. Its stock price is falling every day, with a total weekly decline of approximately 14.03%. Tesla's stock price rebounded this week, recovering from last week's decline.
As of the close on April 26th local time, Tesla was trading at $168.29, a decrease of 1.11%, with a market value of $536.71 billion.
Tesla's financial report released on April 23 showed that in the first quarter of 2024, the company's revenue was $21.3 billion, a 9% decrease from the same period last year; The net profit was 1.129 billion US dollars, a year-on-year decrease of 55%.
In the first quarter, Tesla's revenue from automotive related businesses was $17.378 billion, a 13% decrease from $19.963 billion in the same period last year, and a greater decrease compared to $21.563 billion in the previous quarter.
According to Xinhua News Agency, Tesla has recently started to improve operational efficiency by cutting costs and will continue to strive to reduce sales and other costs to achieve profit growth. At the same time, it will use existing factories and production lines to introduce new and more favorable products. Tesla believes that global electric vehicle sales are facing pressure, but electric vehicles and autonomous driving are the future of automobiles.
Data shows that the global delivery of electric vehicles by the company in the first quarter of this year decreased by nearly 9% compared to the same period last year, marking the first quarterly year-on-year decline in delivery in nearly four years. Tesla CEO Elon Musk recently stated in an internal email to employees that the company will lay off more than 10% of its employees to reduce costs and improve productivity.
It is worth noting that Musk stated during a conference call that Tesla will accelerate the launch of cheaper models while maintaining its plan to start production of new models in the second half of 2025.
According to the financial report released by American electric vehicle manufacturer Tesla on the 23rd, the company's revenue in the first quarter of 2024 was $21.3 billion, a 9% decrease from the same period last year; The net profit was 1.129 billion US dollars, a year-on-year decrease of 55%.
In the first quarter, Tesla's revenue from automotive related businesses was $17.378 billion, a 13% decrease from $19.963 billion in the same period last year, and a greater decrease compared to $21.563 billion in the previous quarter.
According to the financial report, Tesla has recently started to improve operational efficiency by cutting costs and will continue to strive to reduce sales and other costs to achieve profit growth. At the same time, it will use existing factories and production lines to introduce new and more favorable products. Tesla believes that global electric vehicle sales are facing pressure, but electric vehicles and autonomous driving are the future of automobiles.
Data shows that the global delivery of electric vehicles by the company in the first quarter of this year decreased by nearly 9% compared to the same period last year, marking the first quarterly year-on-year decline in delivery in nearly four years. Tesla CEO Elon Musk recently stated in an internal email to employees that the company will lay off more than 10% of its employees to reduce costs and improve productivity.
According to the latest disclosed data, Tesla delivered a total of 386810 vehicles in the first quarter of this year, far below the analyst's previous average expectation of 449080 vehicles, marking the largest underperformance in history. This is also the first time Tesla has fallen below the 400000 vehicle mark since the third quarter of 2022, and the first year-on-year decline since the second quarter of 2020, a decrease of over 8.5% compared to the delivery of 422875 vehicles in the first quarter of last year.
Faced with pressure from sales and performance, Tesla has begun to reduce costs and improve operational efficiency. Musk announced in an internal email to employees in mid April that the company will lay off more than 10% of its employees, affecting approximately 14000 employees, in order to reduce costs and improve productivity.
At the same time, in response to fierce competition in the new energy vehicle market, Tesla's production plan for low-priced models is accelerating.
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