Tesla's car prices have changed again as prices have increased first and then decreased.
On April 21, according to the official website of Tesla China, the price of Tesla Model 3/Y/S/X was reduced by 14000 yuan in Chinese Mainland. Among them, the starting price of Model 3 decreased to 231900 yuan, and the starting price of Model Y decreased to 249900 yuan.
Tesla has experienced a rollercoaster like price increase followed by price reduction in China. On April 1st, Tesla China's official website showed that the price of the Model Y rear wheel drive version was raised to 263900 yuan, the Model Y long endurance version was raised to 304900 yuan, and the Model Y high-performance version was raised to 368900 yuan, with price increases of 5000 yuan.
According to data released by Tesla, the company produced over 433000 vehicles and delivered approximately 387000 vehicles in the first quarter of 2024, which fell short of market expectations. Among them, the delivery volume of Model 3/Y was 369783 vehicles, a 10% decrease from the estimated 426940 vehicles.
An automotive industry analyst told the Shanghai Stock Exchange reporter that Tesla's price reduction in the Chinese market is due to pressure from various parties. Shareholder pressure and market pressure are increasing day by day, and Tesla has to bow down.
It is reported that in the past week, Tesla has experienced many events such as layoffs and suspension of Cybertruck deliveries. These negative news directly led to Tesla's stock price falling by more than 10% in the past week.
Meanwhile, the analyst believes that now is a good time for potential electric vehicle buyers to buy, as Tesla's products are currently priced significantly lower in the Chinese market than in the US market.
On April 20th, Tesla's official website in the United States showed that the Tesla Model Y was lowered to $42990, the Model Y Long Range Edition was lowered to $47990, and the Model Y High Performance Edition was lowered to $51490; The Tesla Model S has been lowered to $72990 and the Model S PLAID has been lowered to $87990; The Tesla Model X has been lowered to $77990 and the Model X PLAID has been lowered to $92990.
"Once again, it proves that in the fierce competition of the Chinese automotive market, prices are not the lowest, only lower. This further exacerbates the elimination race, putting more car companies in a dilemma of whether to maintain sales or cash flow," said the analyst.
Meanwhile, in recent times, the price war for new energy vehicles in China has been quite fierce. Starting from April 1st, some models of the Wenjie New M7 will launch limited time discounts, with discounts ranging from 10000 to 20000 yuan.
On April 20th, Xiaopeng Motors announced that from now until May 5th, it will launch a limited time purchase subsidy of 500 million yuan, covering four models of Xiaopeng G9, G6, P7i, and 2024 Xiaopeng P5.
According to a recent research report by Ping An Securities, the growth rate of top new energy vehicle companies in 2024 is facing pressure, so the price war will continue, especially in the mainstream price range of 100000 to 200000 yuan. With the decrease in battery costs, car companies have more room to lower prices.