A number of Tesla's Model 3 and Model Y models will be cut again in Hong Kong, China, on Aug. 4, following the price adjustment on April 15, with some models falling by as much as 11.9%, the Financial Associated Press reported on July 31.
Pictures circulated on the Internet show that the standard version of Tesla Model 3 rear drive is reduced by 5.98%, the latest price is 320800 Hong Kong dollars, or about 293800 yuan; the long-lasting version is down 8.71%, the latest price is 364700 Hong Kong dollars, about 334100 yuan; and the high-performance version is down 11.91%, the latest price is 387800 Hong Kong dollars, about RMB 355,200 yuan Tesla Model Y rear-drive standard version dropped 5.99%, the latest price is 345100 Hong Kong dollars, about 316100 yuan; long-lasting version down 11.65%, the latest price is 406100 Hong Kong dollars, about 372000 yuan; high-performance version dropped 11.34%, the latest price is 431900 Hong Kong dollars, about 395,600 yuan.
According to Hong Kong media statistics, since 2019, the prices of Tesla Model 3 and Model Y have dropped significantly compared with their peak in July 2022. According to sources, after the price reduction, the price of Tesla's Hong Kong model is the same as that in the United States and other markets.
However, as of press time, Tesla officials did not respond to the above news.
On April 15, Tesla Hong Kong announced a price adjustment of up to 14% for the Model 3 and Model Y models. Among them, the largest price adjustment reduction is Model 3 Performance, "one for one" price from 440335 Hong Kong dollars, a decrease of 14.7%, followed by Model 3 long-lasting version, "one for one" price is 399485 Hong Kong dollars, a decrease of 11.06%. As for the long-lasting version of Model Y and the Performance version, the prices are reduced by 8.7% and 9.03% respectively, starting from HK $459685 and HK $487205 respectively. In short, it means that of the six models in Tesla's Hong Kong market, only the Model 3 and Model Y rear-drive versions remain at the same price, starting at HK $341200 and HK $367100 respectively.
In fact, for Tesla's price reduction, Tesla CEO Elon Musk had early "notice". At the earnings meeting in the second quarter of this year, Musk said that if the macroeconomic environment is unstable, Tesla may continue to cut prices, and stressed again: "I think it makes sense to sacrifice profit margins to produce more cars."
On July 20, Tesla released his financial results for the second quarter of 2023. According to the financial report, Tesla's total revenue in the second quarter was $24.927 billion (about 180.1 billion yuan), up 47% from a year earlier, a record high and higher than the market expectation of $24.51 billion, while the net profit of returning home was $2.703 billion, up 20% from the same period last year. It should be noted that Tesla's second-quarter revenue growth of nearly 50%, but the profit level has declined for three consecutive quarters, the second-quarter gross profit margin fell to 18.2%, lower than market expectations of 18.8%, the lowest level in three years. However, the decline in Tesla's profit margin is also to be expected. During the year, Tesla significantly reduced the price of its models in China, Japan, South Korea, the United States, Europe and other countries and regions. The price reduction of the model also directly led to the decline of Tesla's profit margin. Tesla also explained the reason for the decline in profit margins, saying that it was because the company's measures to boost sales through price cuts had hit profit margins.
And the price reduction strategy initiated by Tesla has indeed brought a significant increase in its sales. According to the data, Tesla produced a total of 479700 new cars worldwide in the second quarter, an increase of 86 percent over the same period last year, of which 19400 were Model Spicer X models and 460200 were Model 3Unip Y. a total of 466100 new cars were delivered, an increase of 83 percent over the same period last year, of which 19200 were delivered by Model Splash X and 446900 by Model 3Universe Y. This is Tesla's output and delivery volume of more than 400000 vehicles for three consecutive quarters.
On July 1 this year, Tesla launched the new Model Splash X existing car incentive, which can enjoy preferential benefits ranging from 35000 to 45000 yuan. After the discount, the starting price of Model S is 773900 yuan and that of Model X is 863900 yuan. On July 9, Tesla once again announced the incentive policy, including introducing friends to buy Tesla and picking up the car during the validity period of the order, 7000 points for Model 3max Y order and 48000 points for Model Smax X car order. The industry believes that the so-called incentive rules are actually price cuts in disguise.
"Automotive Industry concern" believes that to some extent, the price reduction also reflects Tesla's urgent need to exchange profits for sales. For Tesla, "price for volume" is still its main sales means, and the possibility of further price reduction will not be ruled out in the future.
Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat
On March 2, Chery Holdings Group (hereinafter referred to as "Chery Group") released the latest monthly sales figures. According to the data, Chery Group sold 143155 vehicles in February 2024, an increase of 37.8% over the same period last year. The cumulative sales volume from January to February was 348019, up 69.5% from a year earlier. Chery Holdings
Recently, affected by the previous illegal incidents such as data fraud, the sales of Dafa cars decreased significantly in February. Data show that Daihatsu sold just over 9000 vehicles in Japan in February, down 82 per cent from the same period last year. Relevant data show that Daihatsu earlier made small-engine cars in Japan.
On the evening of March 1, Xiaopeng's official Weibo post responded to the "Xiaopeng P7 Suzhou accident". Xiaopeng Automobile said: "at 07:52 on February 29, 2024, a Xiaopeng P7 traffic accident occurred in Wujiang District, Suzhou City, Jiangsu Province. We express great pain for the casualties caused by the accident."
On March 2, Changan Automobile issued an official statement to clarify the incident of "spontaneous combustion as soon as the vehicle left the 4S store". Changan Automobile said in a statement that Changan Automobile was concerned that some online media forwarded videos of Changan users and made false reports under the title of "spontaneous combustion" and "just out of 4S store." Now, according to the circumstances of the incident,
According to the national enterprise credit information publicity system, industrial and commercial changes have taken place in Dongfeng Motor Co., Ltd., Zhu Yanfeng stepped down as legal representative and chairman, and Yang Qing took over. At the same time, a number of managers of the company also changed. According to the data, Dongfeng Motor Co., Ltd. was established in May 2003 with a registered capital of 16.
According to the latest data from the European Enterprise Association (AEB), due to the impact of the general environment, Russian car sales in November 2022 were only 46403, down 61.6% from the same period last year. Cumulative sales from January to November in 2022 were 548877, down 60.9 from the same period last year.
Today, Faraday Future Faraday will release its latest global manufacturing strategy, which mentions that the flagship FF 91 will be built at its 1.1 million-square-foot plant in Hanford, California. The infrastructure in the Hanford plant is already capable of mass production and will greatly reduce production costs and delivery time, officials said. It also said the plant has a capacity of about 10000 vehicles per year and is expected to start production within 12 months after the completion of the merger of FF and PSAC. In addition, FF teamed up with Ware Malcomb, an architectural design company, to fight.
According to the plan, "NIO Berlin" will be held in Berlin, Germany at 0: 00 Beijing time on October 8, and three models of ET7, ET5 and ES7 will be released to the European market. It is worth mentioning that NIO quietly renamed the ES7 model to "EL7", and the market speculated
Recently, Guangdong Xiaopeng Automotive Technology Co., Ltd. has undergone industrial and commercial changes, and its registered capital has increased from 20 billion yuan to 30 billion yuan. Data show that the company was established in June 2019, the legal representative Xia Heng, wholly owned by XPeng (Hong Kong) Limited. Equity penetration
Following the 100 million yuan arrears of wages for employees in Baitang China, Baiteng's US office plans to lay off staff by June 30. According to an email sent by Biden CEO Dai Lei to all staff in the North American office, "after the All Hands Meeting discussion this morning, I confirm that layoffs will be made in the United States by June 30, and arrears of wages for American employees will be paid by June 30." Dai Lei said in an email that the US office will retain employees in R & D-related intellectual property and operations positions, and that these core employees have been notified separately by the vice president of the department. In addition, the global business of Baiteng Automotive continues to develop.