Following Asian markets such as China, Tesla drastically cut the selling price of some electric vehicles in the United States and Germany. It is interpreted as a strategy to boost the shrinking demand for electric vehicles. ·
According to Reuters on the 13th, Tesla cut the price of the Model 3 and Model Y sold in the US by 6-20% the day before. It is calculated that if you purchase the Model Y Long Range in the United States, you can purchase it at a 31% lower price than before, including electric vehicle subsidies. In Germany, the price of the Model 3 sedan and Model Y crossover will be reduced by 1-17%.
The reason why Tesla took out the discount card is to recover demand for electric vehicles. Recently, Tesla has been facing adverse factors such as the economic recession and intensifying competition, and has been producing results that do not meet market expectations. Last year, the number of vehicles Tesla delivered was 1.3 million, below production (about 1.4 million). This means that 100,000 Tesla vehicles are in stock without being sold. Delivery volume in the fourth quarter of last year was 405,278 units, the highest quarterly, but did not meet the Wall Street forecast (42-430,000 units).
Earlier this month, Tesla also conducted a large discount in China, its core market. This is the second price cut following October last year. The price of all versions of the Chinese Model 3 and Model Y has decreased by 13-24% compared to September last year. Reuters quoted analysts as saying, “Price cuts in the Chinese market will boost demand for electric vehicles and intensify pressure on Chinese rivals such as BYD.” Tesla recently lowered the price of electric vehicles in Korea, Japan, Australia and Singapore.
Tesla CEO Elon Musk also announced a price cut. “The surge in interest rates has changed the outlook for the industry as a whole,” Musk said last month.
Reporter Heo Se-min semin@hankyung.com
