Tesla will raise prices in China again next week after three consecutive price increases, according to industry insiders close to Tesla, although the person did not disclose the specific models or the extent of the price increases, according to the Financial Associated Press.
If the news is true, it will be Tesla's fourth price increase in nearly a month. On October 27th, Tesla China raised the price of the high-performance version of Model Y by 14000 yuan to 363900 yuan, while the prices of the other two versions remained unchanged. Tesla China raised the price of the long-lasting version of Model 3 and Model Y by 1500 yuan, starting at 297400 yuan. Model Y long-lasting version rose 2500 yuan, the adjusted starting price of 302400 yuan; November 14, Tesla China's Model 3 and Model Y rear wheel drive version of the starting price are raised, of which Model 3 rear wheel drive refurbished version increased by 1500 yuan, adjusted starting price of 261400 yuan, Model Y rear wheel drive version increased by 2500 yuan, the adjusted starting price is 266400 yuan.
After three consecutive price increases, the prices of Tesla's two domestic models, Model 3 and Model Y, have been raised, but although the prices of all Model 3 and Model Y models have experienced two rounds of price increases, each increase is relatively small. As for the reasons for the price increase, Tesla officials did not give an explanation. However, a Tesla salesperson said in an interview with the media: "this price increase compared to the price reduction in August this year actually belongs to a 'price correction', on the one hand, because Tesla's sales are good, on the other hand, because the production line is under great pressure. Production costs are also rising, in our view price increase is an inevitable thing." The sale also mentioned that "according to the news I have received, after this price increase, the subsequent price may continue to rise."
For Tesla's sudden price increase, some people in the industry think: "Tesla increases the price or because it is currently under great profit pressure, eager to restore gross profit margin."
Tesla's total revenue rose 9 per cent year-on-year to $23.35 billion in the third quarter, but both net profit and gross profit margin fell significantly due to massive price cuts during the year, according to official financial reports. Of this total, net profit was $1.853 billion, down 44 per cent from a year earlier, while gross profit margin fell to 17.9 per cent, down 7.2 per cent from 25.1 per cent in the same period last year. For comparison, Tesla Q1 gross profit margin dropped from 19.3% to 18.2%. This also means that Tesla's gross profit margin has continued to decline in three quarters this year, which is also the lowest gross profit margin in nearly four years.
However, Tesla CEO Elon Musk said on the third-quarter earnings call that Tesla will still try to reduce the price of his car. "the importance of cost cannot be overemphasized. We have to make our products more affordable so that people can afford them," he said. "
Tesla China has raised prices three times in a month, which is obviously inconsistent with Musk's "efforts to reduce prices." For Tesla's "toothpaste" price increase, some netizens think that it is creating a sense of tension that "car prices have been rising all the time", allowing consumers to issue orders to pick up cars as soon as possible.
Official data show that Tesla delivered a total of 1.324 million vehicles worldwide in the first three quarters of this year, which is calculated according to Tesla's global annual sales target of 1.8 million vehicles, which means that Tesla's annual sales completion rate is 73.6%. It is difficult for Tesla to achieve the 26.4% sales target in the remaining time.
As we all know, November is the off-season in the car market, and near the end of the year is also a critical stage for the impulse of car companies, so most car companies still cut prices and sprint year-end sales, and after November, including BYD, zero-running cars and Cyrus's blue electric E5 models, all start time-limited price cuts to varying degrees, of which the blue electric E5 model has a maximum drop of 40100 yuan. The starting price of the new car after the reduction is only 99800 yuan.
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