The step taken by the company is threatening Tesla Related to reducing the prices of all models in China Launching a new round of the terrible price war in the country, Li Auto immediately responded by reducing the prices of its new models and giving money back to customers.
On Monday, Li Auto announced a price reduction of between 6% and 7% on all its products, so that the price of the five-seat L7 sports car currently starts at 301,800 yuan ($41,700).
Buyers who have already ordered a car but have not yet received it can benefit from the new price, as well as the fact that the Chinese company will refund money differences to the owners of the current 2024 model cars of which fell 6.9% in Li Auto shares. in stock exchange trading.Hong Kong“.
Tesla lowered its prices United States China and Europe, after their disappointing sales in the first quarter contributed to the inflation of the number of inventory, and the price of the modified car “Model 3” in China fell to 231,900 yuan from 245,900 yuan, returning to the special price at which As for the “Model Y” car, it has reduced the price to 249,900 yuan, the cheapest it has reached in at least 5 years.
The price war has been going on in the Chinese electric car market since the end of 2022, when Tesla started to lower its prices.
This war has intensified over the past year with stressed car manufacturers trying to meet their sales targets, and there has been little sign of calming down this year, with BYD, the leading company in this market, is reducing the prices of some of its most popular cars. , including the Seagull hatchback”, to less than $10 thousand.
Tesla is expected to reveal, on Tuesday, a 40% decline in operating profits, and the first decline in its income in 4 years, when its profits are announced for the first quarter of the year.
The CEO of the company, Elon Musk, ordered the biggest layoffs in the history of the company, and confirmed the future of the next generation of a new self-driving car called “Robotaxi”.
Tesla’s market share in China fell to around 6.7% in the last quarter of 2023, from 10.5% in the first three months of the same year, according to calculations made by Bloomberg based on data from the Passenger Car Association China.
The automaker recently reduced production records at its factory in Shanghai, according to a report published by Bloomberg last month.
Shipments from Tesla’s factory in Shanghai, which makes electric cars for the Chinese market and exports to other markets in Asia, Europe and Canada, declined in the first two months of 2024 compared to the same period last year, despite an overall increase. passenger car sales in China.
2024-04-22 12:42:44
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