“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.

Tesla reported revenue of $23.33 billion compared to the $23.21 billion estimated by Refinitiv, while the adjusted earnings per share were in line with the expected mark of $0.85. However, the company’s total gross margin was 19.3%, well below the 22.4% expected by analysts polled by Refinitiv.

Since the start of 2023, Tesla has tried to boost the sales of its electric cars by slashing the prices on six occasions. This included a price cut on Monday night that will result in some models being available for less than $40K. Some experts predict even lower prices in the future as the company faces increased competition.

“We expect ongoing cost reduction of our vehicles, including improved production efficiency at our newest factories and lower logistics costs, and remain focused on operating leverage as we scale,” Tesla said in a statement released to shareholders.

Tesla’s stock closed on Tuesday at $180.59 per share, representing a 67.06% jump year-to-date. The shares fell as low as $172.66 at one point after the bell.

The post Tesla Shares Drop After Disappointing First-Quarter Earnings Results 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.

Protests erupted across Tesla showrooms in China, where vehicle owners demanded rebates and credits for purchases made right before the price cut. This marks the second time in the past three months that the electric vehicle maker has decided to slash its prices.

Locally-manufactured Model 3 underwent a 13.5% price cut, while Model Y’s price tag was reduced by 10%. As a result, the new retail prices of the Model 3 and Model Y are $33,515 and $37,899.

In an effort to take advantage of government subsidies for EV purchases that were soon to expire, a slew of consumers purchased Tesla vehicles just before the end of 2022. As a result, many Tesla owners complained that they had overpaid for their vehicles.

Following the decision to reduce prices, the Tesla website now shows that waiting times for deliveries of the Model Y have been extended by a week. While the performance edition of the Model Y and all Model 3s still have a waiting period of one to four weeks, the Model Y’s waiting time is now two to five weeks.

The post Tesla Owners in China Protest Recent Price Cut appeared first on theprimarymarket.com.

While the company slashed the price of its China Model 3 by 13.5%, the price of its Model Y was reduced by 10%. The new retail prices for the Model 3 and the Model Y are $33,515 and $37,899 respectively.

Tesla’s 7% share decline is a new 52-week low for the automaker. Currently at its lowest level since August 2020, Tesla stocks have plummeted by over 40% in the last month.

According to the Future Fund managing partner Gary Black, the latest round of price cuts may lead to another round of earning cuts between 2023 and 2026.

“Tesla’s price cuts intensify the need for Tesla to accelerate the development of a $25K-$30K TSLA compact as a long-term China solution to combat BYD’s huge success in China’s under ¥200K segment,” Black commented.

The post Tesla Stock Loses 6% Following Price Cut Announcement appeared first on theprimarymarket.com.

According to Reuters, the most recent price increase is the fourth this year alone. It comes as a result of many factors, including rising costs of materials like aluminum and nickel, a shortage of semiconductors, and the recent shutdown of the Shanghai factory.

The Model X saw the biggest price hike, with its Dual Motor All-Wheel Drive Long Range edition going from $114,990 to $120,990. The company’s most popular car, Model 3, was mostly kept intact, and only the Long Rage edition saw a $2,500 price increase. On the other hand, Model S was bumped from $99,990 to $104,990 despite already becoming more expensive just a few months ago. 

Speaking about the prices of Tesla electric vehicles back in April, CEO Elon Musk explained the increase by long wait lists.

“Our prices of vehicles ordered now are really anticipating a supplier and logistics cost growth that we’re aware of and believe will happen over the next six to 12 months,” he explained.

The increased costs of owning a Tesla probably won’t deter customers from trying to get their hands on one of them. It will also help the electric car maker to keep its impressive margins of up to 33 percent in the past quarter.

The post Tesla Raises Prices of Its Models in the U.S. By as Much as $6,000 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.

Tesla reported revenue of $23.33 billion compared to the $23.21 billion estimated by Refinitiv, while the adjusted earnings per share were in line with the expected mark of $0.85. However, the company’s total gross margin was 19.3%, well below the 22.4% expected by analysts polled by Refinitiv.

Since the start of 2023, Tesla has tried to boost the sales of its electric cars by slashing the prices on six occasions. This included a price cut on Monday night that will result in some models being available for less than $40K. Some experts predict even lower prices in the future as the company faces increased competition.

“We expect ongoing cost reduction of our vehicles, including improved production efficiency at our newest factories and lower logistics costs, and remain focused on operating leverage as we scale,” Tesla said in a statement released to shareholders.

Tesla’s stock closed on Tuesday at $180.59 per share, representing a 67.06% jump year-to-date. The shares fell as low as $172.66 at one point after the bell.

The post Tesla Shares Drop After Disappointing First-Quarter Earnings Results 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.

Protests erupted across Tesla showrooms in China, where vehicle owners demanded rebates and credits for purchases made right before the price cut. This marks the second time in the past three months that the electric vehicle maker has decided to slash its prices.

Locally-manufactured Model 3 underwent a 13.5% price cut, while Model Y’s price tag was reduced by 10%. As a result, the new retail prices of the Model 3 and Model Y are $33,515 and $37,899.

In an effort to take advantage of government subsidies for EV purchases that were soon to expire, a slew of consumers purchased Tesla vehicles just before the end of 2022. As a result, many Tesla owners complained that they had overpaid for their vehicles.

Following the decision to reduce prices, the Tesla website now shows that waiting times for deliveries of the Model Y have been extended by a week. While the performance edition of the Model Y and all Model 3s still have a waiting period of one to four weeks, the Model Y’s waiting time is now two to five weeks.

The post Tesla Owners in China Protest Recent Price Cut appeared first on theprimarymarket.com.

While the company slashed the price of its China Model 3 by 13.5%, the price of its Model Y was reduced by 10%. The new retail prices for the Model 3 and the Model Y are $33,515 and $37,899 respectively.

Tesla’s 7% share decline is a new 52-week low for the automaker. Currently at its lowest level since August 2020, Tesla stocks have plummeted by over 40% in the last month.

According to the Future Fund managing partner Gary Black, the latest round of price cuts may lead to another round of earning cuts between 2023 and 2026.

“Tesla’s price cuts intensify the need for Tesla to accelerate the development of a $25K-$30K TSLA compact as a long-term China solution to combat BYD’s huge success in China’s under ¥200K segment,” Black commented.

The post Tesla Stock Loses 6% Following Price Cut Announcement appeared first on theprimarymarket.com.

According to Reuters, the most recent price increase is the fourth this year alone. It comes as a result of many factors, including rising costs of materials like aluminum and nickel, a shortage of semiconductors, and the recent shutdown of the Shanghai factory.

The Model X saw the biggest price hike, with its Dual Motor All-Wheel Drive Long Range edition going from $114,990 to $120,990. The company’s most popular car, Model 3, was mostly kept intact, and only the Long Rage edition saw a $2,500 price increase. On the other hand, Model S was bumped from $99,990 to $104,990 despite already becoming more expensive just a few months ago. 

Speaking about the prices of Tesla electric vehicles back in April, CEO Elon Musk explained the increase by long wait lists.

“Our prices of vehicles ordered now are really anticipating a supplier and logistics cost growth that we’re aware of and believe will happen over the next six to 12 months,” he explained.

The increased costs of owning a Tesla probably won’t deter customers from trying to get their hands on one of them. It will also help the electric car maker to keep its impressive margins of up to 33 percent in the past quarter.

The post Tesla Raises Prices of Its Models in the U.S. By as Much as $6,000 appeared first on theprimarymarket.com.