Dark
Light
Today: May 5, 2024
April 22, 2024
1 min read

Tesla cuts prices in China, Germany after FSD cost drop; shares fall

Tesla (NASDAQ:TSLA) slashes prices in key markets like China and Germany following recent cuts in the US, amid tough competition in the electric vehicle (EV) market.
Shares dropped over 3% in premarket trading on Monday.

The updated Model 3 now costs 14,000 yuan ($1,930) less in China, priced at 231,900 yuan ($32,000) on Tesla’s official website. In Germany, the rear-wheel-drive Model 3 is now 40,990 euros ($43,670.75), down from 42,990 euros.

See also  DisCos implement rationing amid 15,938MW power deficit in Nigeria

Tesla also reduced prices in Europe, the Middle East, and Africa, according to a company spokesperson.
This move follows the US price drops for the Model Y, Model X, and Model S by $2,000 on Friday.
On Saturday, the company cut the cost of its Full Self-Driving (FSD) software to $8,000 from $12,000.
Tesla has been leading an EV price war, aggressively cutting prices over a year ago, impacting profit margins.

See also  Trump media, owner of Truth Social, to begin trading Tuesday after merger closure

Updates to older models have been slow, partly due to high interest rates impacting consumer spending on big-ticket items. Meanwhile, Chinese competitors are offering more affordable models in the world’s largest auto market.
Tesla announced earlier this month plans to lay off over 10% of its global workforce as it anticipates its first annual drop in deliveries.

Advertisement

Advertisement

Advertisement

Leave a Reply

Your email address will not be published.

Previous Story

No more spraying Naira! party goers invent new ways of keeping the vibe alive

Next Story

Ogun: 49yrs old woman commits suicide

Latest from Blog

Ogun CJ frees 3 inmates

As part of its efforts to decongest correctional facilities across the Ogun state, the stateโ€™s Chief Judge, Justice Mosunmola Dipeolu has granted amnesty to

Two killed in Ogun cult clash

Two persons have been reportedly killed on Sunday in a cult clash in Abeokuta, Ogun State capital. The victims, allegedly members of the Eiye

Ogun evacuates, rehabilitates destitute

The Ogun State government has begun evacuation and rehabilitation of destitute with mental disorders who constitute environmental nuisance to communities across the state. Hon.

Pelican valley lights up Ogun communities

Pelican Valley estate has installed industrial solar lights in over ten neighboring communities in Ogun state. The community includes Kobape, Egbeda, Galatia, Masha, Mosunmore,

Ogunย ย IPAC gets new chairman

Comrade Sanyaolu Abayomi of Action Alliance ( AA) has emerged as the newly elected Chairman ofย ย Inter-Party Advisory Council ( IPAC) in Ogun State.ย  The

OGHA passes N703.02Bn 2024 budget

The Ogun State House of Assembly has on Thursday passed N703,028,013,431.64 as the Year 2024 Appropriation bill. The bills which was earlier presented to

Ogun set to distribute 5000 CofO

The Ogun state government will distribute 5000 Certificates of Occupancy (C of O) to beneficiaries on Friday, December 1 2023. According to a statement
Go toTop

Don't Miss

Breaking: Bayern Munich set to split from tuchel

The decision is said to be the result of amicable

Germany’s Cry: stop far-right’s deportation plot

otably, politicians from the previously ruling Christian Democratic Party (CDU)