Tesla turns up heat on rivals with global price cuts

Reuters ^ | January 13, 2023 | Hyunjoo Jin, Victoria Waldersee and Zoey Zhang

[SunkenCiv]

Tesla lowered prices across the United States, Europe, the Middle East and Africa, following a series of cuts last week in Asia, in what analysts saw as a clear shot at both smaller rivals that have been bleeding cash and legacy automakers aggressively ramping up electric vehicle production...

The U.S. price cuts on Tesla's global top-sellers the Model 3 sedan and Model Y crossover SUV were between 6% and 20%, Reuters calculations showed, with the basic Model Y now costing $52,990, down from $65,990.

Tesla also cut prices for its Model X luxury crossover SUV and Model S sedan in the United States...

The move marks a reversal from the automaker's strategy over the last two years when new vehicle orders exceeded supply. It comes after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower prices to sustain growth at the expense of profit...

Shares ended down 0.9% after falling as much as 6.4% on Friday. Last year, Tesla stock had its worst year since the company's inception due to slowing growth in China and Musk's distraction with Twitter.

In Germany, Tesla lopped prices by about 1% to almost 17% on the Model 3 and the Model Y. The best-selling Model Y will now go for 44,890 euros ($48,499), down 9,100 euros.

It also reduced prices in Austria, Switzerland and France...

The move broadens the vehicles in Tesla's line-up eligible for the Biden administration tax credit.

Before the price cut, the five-seat version of the Model Y had been ineligible, which Musk called "messed up." After the price cut, the long-range version of the Model Y will qualify.

[SunkenCiv]

Reporting by Hyunjoo Jin in Seoul, Zhang Yan in Shanghai and Victoria Waldersee in Berlin Additional reporting by Bansari Mayur Kamdar in Bengaluru, Samuel Indyk in London and Gertrude Chavez in New York; Writing by Kevin Krolicki and Josephine Mason Editing by Peter Henderson, Alexander Smith and Matthew Lewis

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Tesla's biggest price drop ever, Model Y cheaper than ever, Tesla becomes the biggest luxury brand in the US, and more!

MASSIVE $21,000 Tesla Price Cut Is Here | Fans Are Furious
Ryan Shaw | 215K subscribers
596,540 views | January 14, 2023

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'Civ: IOW, they can't build them fast enough, it's been a longterm problem, indeed a good problem to have.

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[SunkenCiv]

In before the *****ing.

[butlerweave]

Shocking

[BobL]

Must have gotten some ‘goodies’ from the feds.

[glorgau]

Tesla has their mega factories built and now they’re cutting their margins to get market share. Classic move.

[cgbg]

I will take one—if they pay me $50,000!

[from occupied ga]

An inferior technology to ICE is still an inferior technology regardless of the price. Battery car technology is not as good as ICE car technology. Let the brain dead fan boys buy them and then wonder where they’re going to get the new battery for them 8-10 years later

[minnesota_bound]

That is still $40,000 more then I can spend on a car.
I have a gas car that gets me where I want to go with 5 minute fill ups along the way and zero fill of being roasted.

[Renfrew]

With the purchase of Twitter Musk now has a big target on his back.

The regime is coming for Tesla and SpaceX. This price cut is a good defensive move.

[1Old Pro]

the basic Model Y now costing $52,990, down from $65,990.

Let me know when they offer 40k in credits and I'll get one.

[butlerweave]

Slaves to the Charger

[SunkenCiv]

There had been supply chain problems for Tesla, which resulted in relatively slight increases, and complaints about that, too. :^) While US-built ICE trucks were waiting for chips to install the *brakes*, chip-intensive Tesla continued to build and sell cars.

Oh, nice, the Verizon scam just rang me again. Screening rooools.

[SunkenCiv]

Yeah, it must be tough to find an outlet in the garage and let the car charge up while the driver is sleeping. Eventually this problem will spawn a sequel to Amistad.

[Magnum44]

costing $52,990, down from $65,990

For that price I can get a top of the line Wrangler Rubicon, that doesnt concern itself with where it will get its next charge from, doesnt catch fire suddenly, doesnt care how high the curb is when you are parking or how muddy and rutted the road might be, it seats 5 comfortably with camping gear or luggage, and did I mention it can climb schools?

[Hazwaste]

Great reference

[SunkenCiv]

It may indicate expansion. The vid linked above discusses current (/rimshot) expansion in the US.

Oh, the Verizon scam is calling again, different number thanks to the scammers’ use of caller ID spoofing. There’s a vaguely Aussie accent on the message it leaves, truncated, “...leave your number we’ll call you back.”

About once a day some robodialer calls my two cell phones simultaneously. I’m sure Biden, Inc. gets its cut when the scammer scores.

Elon’s been bent about the tariff on auto imports imposed by India, meanwhile he’s been working for a while on building a Tesla plant in India, after considering other southern Asia countries including SE Asia. India has a literate population, but many of their best engineers wind up in the US. India has sort of a low wage rate, but in practice it seems to be difficult to build capacity in India. Apple’s OEM TSMC is attempting to build there now.

The experience of building Giga Berlin probably taught him a lesson.

Oh, here comes the Verizon scam again.

“...leave your number we’ll call you back.”

Due to concerns about how Brexit would go, Tesla decided on Germany, and there was no end of struggles with the German automakers’ astroturf. Mercedes had a dalliance with hydrogen powered vehicles (first model was a 2018, ever seen one?), as Toyota is doing now.

[SunkenCiv]

LOL

[newzjunkey]

Not everyone has heated and cooled garages and cash for an at home charging unit or even a garage.

The Lucid Air and Mercedes EQS could give me range on par with my ICE vehicle in decent weather but electric cars are terrible on long trips where there’s no regenerative breaking to prop up the battery. Also Tesla’s newest battery pack isn’t equal to their old one.

[newzjunkey]

The move broadens the vehicles in Tesla's line-up eligible for the Biden administration tax credit.

There’s a real reason for price cuts. Also since there’s no waiting list used Tesla prices are dropping like a rock. Many woke are offended by Musk, who they used to revere, over Twitter so they are looking elsewhere for electric vehicles. And there’s more options everyday.

[AnotherUnixGeek]

Let the brain dead fan boys buy them and then wonder where they’re going to get the new battery for them 8-10 years later

I doubt anyone buying an electric car is planning to keep it that long.