The company founded by Elon Musk announced on Friday price reductions for electric cars sold in Europe, Israel and Singapore, thus extending the price reduction campaign started at the beginning of the year in China. The manufacturer hopes that it will be able to increase its sales volumes, despite the slowdown of the global economy.
Tesla last week reported an increase in deliveries in the first quarter of 2023 of just 4% compared with the previous three months, despite discounts in the United States, China, Japan, Australia and South Korea.
Days after the release of disappointing delivery data, Tesla announced its fifth price cut in the US market, following recent comments by CEO Elon Musk that Tesla will focus on sales volumes at the expense of profit margins.
On Friday, Tesla informed that it will lower prices in many European markets, including Germany and France, following the improvement of production capacity, writes Agerpres, taking over Reuters.
The lower the prices
In Germany, Tesla cut prices for Model 3 and Model Y vehicles by 4.5% to 9.8%, in Singapore it cut prices for Model 3 and Model Y vehicles by 4.3% to 5%, while in Israel price Model 3 fell by 25%.
Next week, Tesla will report financial results for the first quarter of 2023.
Tesla, which sells its cars directly to consumers, says small price adjustments have had a big effect on demand. The American company delivered 422,875 vehicles globally in the first quarter.
Publisher : BP
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