“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

A post from Tesla on the social media platform Weibo showed that the price of the Model S has been lowered from 808,900 yuan to 754,900 yuan ($103,477.58); a 6.7% drop. The price of the Model X was reduced by 6.9% from 898,900 yuan to 836,900 yuan.

Vehicle sales in China for the EV maker declined by 31% in July compared to June – the first month-on-month decline that Tesla has experienced since December last year. This was the period in which Tesla lowered its production levels as it dedicated more resources to preparing for the revamped Model 3 launch.

In addition to raising its profit margin, Tesla is also looking to remain competitive against rivals such as China’s BYD, which saw its sales increase over July compared to the previous month.

The post Tesla Slashes Prices in China in Sales Push appeared first on theprimarymarket.com.

A quick look at Tesla’s official website, and you’ll notice that Model S Plaid has gone from $114,990 to $109,990 while Model S AWD is now priced at $89,990 compared to the previous price of $94,990. On the other hand, you can now get Model X AWD for $99,990, down from $109,990, while the Plaid version of Model X has now dropped from $119,990 to $109,990.

Tesla CEO Elon Musk hinted at possible price movement during the company’s investor day earlier this month. At the time, Musk said that people have an “infinite” desire to own a Tesla but that the prices are stopping them from making that a reality.

“We found that even small changes in the price have a big effect on demand, very big,” he added.

After the debut of discount prices for Model X and Model S, Tesla’s stock has dropped roughly 2% compared to the close price of 198.30 per share on Friday. Tesla shares are 79.04% up year to date after a huge slide in 2022.

The post Tesla Slashes Prices of its Model X and Model S for the Second Time This Year appeared first on theprimarymarket.com.

“This is the essential quandary of manufacturing: factories need continuous production for efficiency, but consumer demand is seasonal,” Tesla CEO Elon Musk explained. With the company being hurt by a vicious price war with rivals that began a year ago, the company warned that its sales may decline this year as it looks to focus on the development of its next-generation EV, named “Redwood”.

The decision to raise the price of the Model Y follows Tesla’s previous decision to increase the price of the Model Y rear-wheel drive and long-range vehicles by $1,000, to $$43,990 and $48,990 respectively.

The post Tesla to Increase Model Y Price in Europe appeared first on theprimarymarket.com.

A post from Tesla on the social media platform Weibo showed that the price of the Model S has been lowered from 808,900 yuan to 754,900 yuan ($103,477.58); a 6.7% drop. The price of the Model X was reduced by 6.9% from 898,900 yuan to 836,900 yuan.

Vehicle sales in China for the EV maker declined by 31% in July compared to June – the first month-on-month decline that Tesla has experienced since December last year. This was the period in which Tesla lowered its production levels as it dedicated more resources to preparing for the revamped Model 3 launch.

In addition to raising its profit margin, Tesla is also looking to remain competitive against rivals such as China’s BYD, which saw its sales increase over July compared to the previous month.

The post Tesla Slashes Prices in China in Sales Push appeared first on theprimarymarket.com.

A quick look at Tesla’s official website, and you’ll notice that Model S Plaid has gone from $114,990 to $109,990 while Model S AWD is now priced at $89,990 compared to the previous price of $94,990. On the other hand, you can now get Model X AWD for $99,990, down from $109,990, while the Plaid version of Model X has now dropped from $119,990 to $109,990.

Tesla CEO Elon Musk hinted at possible price movement during the company’s investor day earlier this month. At the time, Musk said that people have an “infinite” desire to own a Tesla but that the prices are stopping them from making that a reality.

“We found that even small changes in the price have a big effect on demand, very big,” he added.

After the debut of discount prices for Model X and Model S, Tesla’s stock has dropped roughly 2% compared to the close price of 198.30 per share on Friday. Tesla shares are 79.04% up year to date after a huge slide in 2022.

The post Tesla Slashes Prices of its Model X and Model S for the Second Time This Year appeared first on theprimarymarket.com.