Tesla cut prices in China for its Model Y long-range and performance versions. The electric car company reduced the starting prices of both models by $1,934
on Monday said it has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, sending its shares lower on concern of further pressure on its profit margins.
The move came after sales of Tesla's China-made vehicles fell 31% in July from June, their first month-on-month decline since December, as the automaker idled some production to prepare for a revamped Model 3 launch. In contrast, China's BYDTesla reduced the starting prices of both models by 14,000 yuan . The Model Y Long Range's starting price drops 4.5% to 299,900 yuan, and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%.
Evercore ISI analyst Chris McNally said in a research note that he expects similar select price cuts in the U.S. and Europe, and that could lead to about 100 basis points of sequential pressure on Tesla's third-quarter margins. made along with several other companies in China to avoid "abnormal pricing", which some thought signalled a truce in the price wars that have threatened the profitability of the industry.were a possibility, even after they squeezed the automaker's margins.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Tesla cuts prices again in China for Model Y, Model 3Tesla shares fell after the company announced a fresh round of price cuts for the Model Y in mainland China.
Consulte Mais informação »
Tesla cuts prices for some Model Y versions in China, as price war ramps back upTesla Inc. continued to ratchet up a price war in China, cutting the cost of two versions of its Model Y SUV by about $1,900 each.
Consulte Mais informação »
Tesla slashes Model Y prices again in ChinaTesla (TSLA) stock slipped on Monday as the automaker once again cut prices in China, signaling demand erosion for its EVs on the mainland.
Consulte Mais informação »
Tesla cuts prices in China for some Model Y versionsTesla Inc has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, the company said in a notice on Monday.
Consulte Mais informação »
2023 Tesla Model Y Long Range First Test: Still the One?As rivals have emerged—some excellent—does Tesla’s electric SUV still have the goods?
Consulte Mais informação »
Tesla Model S Plaid Amazes In Moose Test: Outperforms Porsche TaycanThe 2023 Tesla Model S Plaid, recently introduced in Europe, achieved an exceptionally good result in a \u0026quot;moose test\u0026quot; conducted by km77.com in Spain.
Consulte Mais informação »