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The highest drop is about 9.1%! Tesla greatly reduced the price of Model Y in many European countries.

2024-05-27 Update From: AutoBeta NAV: AutoBeta > News >

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

According to reports, Tesla cut the price of Model Y in many European countries, such as France and Germany, by as much as 9.1%. Among them, in the German market, the prices of Tesla Model Y long-range version and Model Y high-performance version were reduced by 5000 euros to 49990 euros and 55990 euros respectively, by 9% and 8.1% respectively. Tesla Model Y prices fell 5.7% to 6.7% in France, 10.8% in Denmark, 4.3% to 7.7% in the Netherlands and 5.6% to 7.1% in Norway.

Tesla officials did not give an explanation for Tesla's sharp reduction in the price of Model Y across Europe. But industry insiders speculate that this may be related to the slowdown in demand for electric cars.

It is worth mentioning that on January 12, Tesla also reduced the prices of Model 3 and Model Y in the Chinese market, of which the new version of Model 3 dropped by 15500 yuan to 245900 yuan after adjustment; the new version of Model 3 decreased by 11500 yuan to the latest price of 299900 yuan; in addition, the price of Tesla Model Y rear wheel drive version was reduced by 7500 yuan to 258900 yuan The price of Tesla Model Y long-range version has been reduced by 6500 to 299900 yuan after the adjustment, while the price of Model Y high-performance version remains unchanged at 362900 yuan.

In fact, in 2023, Inner Tesla has cut prices in the United States, Europe, China and other markets, and behind the price reduction also reflects Tesla's urgent need to exchange profits for sales, which also led to the decline of Tesla's gross profit margin during the year. However, Tesla CEO Elon Musk still said, "the importance of cost cannot be overemphasized. We must make our products more affordable so that people can afford them." Like Mr Musk, Vaibhav Taneja, Tesla's chief financial officer and chief accounting officer, stressed that the company would "unswervingly pursue further cost reductions in 2024", which involves engineering and plant operations.

Up to now, Tesla's global sales models include Model 3, Model Y, Model S and Model X a total of four models, of which, Model SameX is the first batch of models that Tesla enters China, and both models are introduced into the domestic market by import. Compared with the domestic Model 3GPY Model Smax X, which locates millions of high-end luxury cars, the high price also leads to a small audience of the two cars in the domestic market.

Among the four models, the Model Y is Tesla's best-selling model. Taking the Chinese market as an example, the cumulative sales of Model Y in 2023 was 456400, making it the best-selling model in China, while the Model 3 was 147300, according to retail data from the Federation of passengers.

In addition, according to official data, Tesla's global cumulative delivery volume for the whole of 2023 increased by 38% to 1.8086 million vehicles compared with the same period last year, meeting the annual sales target of 1.8 million vehicles on schedule. Among them, according to the Federation of passengers, Tesla delivered a total of 947000 vehicles in China in 2023, accounting for 52% of the total global delivery, which means that Tesla Shanghai Super Factory contributed more than half of Tesla's global delivery.

With regard to Tesla's development in the new year, foreign media reported that Tesla will face more challenges in the new year, including the reduction of subsidies for electric vehicles in the United States and Germany, as well as more stringent regulatory scrutiny of its self-driving functions in the United States and European countries. The report at that time also pointed out that the decline in the cost of battery raw materials would also force Tesla to cut prices further in 2024, although Tesla officially did not respond to the news.

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