Its already known that in last 6 months, Tesla is the only tech company that has the most dip percentage in the stock prices among.
Price of Tesla in China
In China, Tesla has sliced the prices across its range, with the revamped Model 3 falling to 231,900 yuan ($32,000) from 245,900 previously. The Model Y was discounted to 249,900 yuan ($34,500) from 263,900 yuan.
Price of Tesla in USA
In US, Tesla Model Y is now $42,990. Surprisingly, Tesla also discounted the two other more expensive versions of the Model Y by $2,000, and dropped the price of the Model X to its lowest yet!
Why Tesla slashing the prices of the cars?
Tesla is doing so after disappointing first-quarter sales contributed to swelling inventory and moreover Musk started this whole thing when he decided that the Tesla Inc would be laying off about 10% of their workforce.
The automaker,Tesla has reported its first year-over-year sales drop since the early days of the pandemic, delivering 386,810 vehicles in the first quarter.
In China, Tesla’s market share shrank to around 6.7 per cent in the fourth quarter of 2023, from 10.5 per cent in the first three months of the year.
Tesla is going to report on its first-quarter earnings on April 23. Currently its stock is down more than 40 per cent this year on concern about slumping sales for most of the reason.
