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Buy early and enjoy early! Tesla has raised the price again.

2024-04-13 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/03 Report--

No accident, Tesla raised the price again! Tesla raised the price of the Model Y long-range all-wheel drive version by 2000 yuan to 304400 yuan on Nov. 21.

This is Tesla's fourth price increase in a month! On October 27th, Tesla raised the price of the Model Y high-performance version by 14000 yuan. On November 9, Tesla China announced an increase in the price of the long-lasting version of Model 3 and Model Y, of which the price of the new version of Model 3 was raised by 1500 yuan, starting at 297400 yuan, and the long-lasting version of Model Y rose by 2500 yuan to 302400 yuan after adjustment. On November 14, Tesla's Chinese official website showed that the starting prices of Model 3 and Model Y rear wheel drive versions were both raised, with the Model 3 rear wheel drive refurbished version rising by 1500 yuan, starting at 261400 yuan, and Model Y rear wheel drive version up by 2500 yuan, with an adjusted starting price of 266400 yuan.

For a long time, Tesla has adhered to the strategy of cost pricing, but in the context of chip shortage easing and lithium prices falling sharply, market analysts rarely take this factor into consideration, but refer more to the relationship between supply and demand. According to Tesla's sales staff, the price increase is due to better sales, great pressure on the production line and rising production costs. Data show that in the first week of November, Tesla's weekly terminal sales were 12700, ranking ninth in China, of which Model Y sold 9453 vehicles, making it the highest domestic model sold in a single week.

However, some netizens believe that if Tesla is really "in short supply", he can suspend taking orders to ease the pressure of delivery, rather than increase the price of sales. Therefore, Tesla's move is to break the wait-and-see mentality of consumers who hold money and wait and see through price increases many times, so that consumers can issue orders to pick up cars as soon as possible. Some analysts said that Tesla is not worried about selling, while a number of independent brands have announced price cuts, their reverse price increases can emphasize "independent pricing power", which is not subject to the overall layout direction of China's auto market.

In the short term, there is also a factor that production capacity "falls short of demand" behind Tesla's price increase. According to Tesla's Chinese official website, at present, the delivery cycle of Tesla Model 3 long-term flight rejuvenation version has been raised to 6-9 weeks, and that of Model Y long-term flight version has been raised to 6-8 weeks.

In addition, Tesla's move is to repair its severely declining profitability. In the third quarter, Tesla's revenue was $23.35 billion, up 9% from a year earlier, but below analysts' expectations of $24.06 billion; net profit was $1.853 billion, down 44% from a year earlier, below market expectations of $2.231 billion; and gross profit margin was 17.9%. Has fallen to the lowest level in four years.

As one of Tesla's most important markets, China temporarily chooses the latter between "sales volume" and "profit". At present, Tesla is still far from the annual sales target, or continues to impact the annual target by means of price adjustment. In the first three quarters, Tesla delivered a total of 1.3241 million cars worldwide, an increase of 45.73 percent over the same period last year. Tesla CEO Musk has said that the company will keep its delivery target of 1.8 million vehicles unchanged in 2023. Tesla delivered a total of 1.324 million new cars worldwide by the end of September 2023, according to official data. Based on this calculation, Tesla's annual sales target completion rate is about 73.56 per cent. Judging from the current data, Tesla needs to deliver at least 476000 new cars in the global market in the fourth quarter of this year in order to successfully achieve his annual sales target.

On the one hand, the competition and promotion among car enterprises will provide a stable support to the car market at the end of the year and help the car market hit new highs, but more and more car companies are cutting prices to impact sales. In fact, the competitive pressure is also further intensifying. In the future, more car companies will join the ranks of promotion and price reduction, and Tesla is an exception.

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