Page 13 - Model 3 News Today

Investors are driving down Tesla's stock after news of the latest price cuts, but the reductions may end up being the right move, Wedbush said.

Tesla Inc. shares slid in premarket trading after slashing prices of its vehicles sold in the US

Tesla's recent price cuts are a "win" for the brand, though it may bring on short-term earnings pain, according to Loup's Gene Munster.

Tesla is goosing sales and going after Ford, GM, and other new competitors by slashing the prices on its once-luxury vehicles.

The move is in line with slashed prices seen in other regional markets, such as South Korea, China and Australia, by the electric carmaker.

Citing increased manufacturing efficiencies and decreased component costs, Tesla made another round of drastic Model Y and Model 3 price adjustments. The Model Y, in particular, now starts from just US$37,875 in China, a price that is 43% lower than the SUVs tag in the US.

The discounts supersede a set of incentives that Tesla extended just this week, underscoring its struggles after it missed its 2022 worldwide delivery targets, and was overtaken by BYD.

Tesla promised to be different. But now it's discounting the Model 3 and selling to Hertz like a regular car company.

The entry-level version of Xiaomi’s car could be priced between 260,000 yuan (US$37,900) and 300,000 yuan, and is expected to launch at the end of this year, according to a report by LatePost.

Tesla cut prices in China for the second time in less than three months on Friday, fuelling forecasts of a wider price war amid weaker demand in the world's largest autos market. The U.S. automaker also cut prices on its best-selling Model Y and Model 3 electric vehicles in Japan, South Korea and Australia in what a person with direct knowledge of the plan said was part of an effort to help stoke demand for output from its Shanghai factory, its single largest production hub.