Automundo China

Late Saturday, Tesla cut the price of its Full Self-Driving software to $8,000 in the U.S. from $12,000.

Tesla has lowered prices by close to $2,000 for its vehicle lineup in China following similar reductions in the United States, amidst declining sales and...

Tesla's negative year-over-year volume growth in the first quarter and the ongoing EV market slowdown have prompted the company to take aggressive measures.

BEIJING, April 21 — Tesla has cut prices in China by nearly US$2,000 across its line-up in China, in line with its price cuts in the United States, as it grapples with falling...

Tesla has cut prices by nearly $2,000 across its models in China, after price cuts in the U.S., as it grapples with falling sales and an intensifying price war.

Tesla's Global Pricing: Tesla has adjusted its pricing strategy in China, mirroring recent cuts in the United States. The move comes amidst declining sales and heightened competition in the electric vehicle (EV) market, particularly from more affordable Chinese EV brands.Elon Musk's company reduced the starting price of the revamped Model 3 in China by 14,000 yuan ($1,930), now priced at 231,900 yuan ($32,000), according to its official website on Sunday.Model price adjustmentsSimilar adjustments were made to other models: the Model Y now starts at 249,900 yuan, the regular Model S at 684,900 yuan, and the Model S Plaid at 814,900 yuan. Additionally, the regular Model X is priced at 724,900 yuan, while its Plaid variant costs 824,900 yuan.Tesla also lowered prices of its Model Y, Model X, and Model S in the US by $2,000 on Friday. Furthermore, it reduced the price of its Full Self-Driving driver assistant software from $12,000 to $8,000 in the US on Saturday.Global delivery downturnThe company recently reported a decrease in global vehicle deliveries for the first quarter, attributing it to insufficient demand despite price adjustments.Tesla's slow response in updating its ageing models and prevailing high interest rates affecting consumer spending have contributed to its challenges. Meanwhile, competitors in China, the world's largest auto market, are introducing more economical alternatives.Elon Musk postponed his scheduled visit to India, where he was expected to meet Prime Minister Narendra Modi and unveil Tesla's plans for the South Asian market. The decision was due to obligations at Tesla, according to Reuters.Workforce reduction planIn a related development, Musk announced plans to reduce Tesla's global workforce by more than 10 per cent, anticipating the company's first annual decline in deliveries.Amidst uncertainties, investors are seeking clarity regarding Tesla's long-awaited affordable EV. After reports emerged that Tesla abandoned plans for this model in favour of robotaxis, Musk refuted the claims without providing further details, leaving investors eager for more information.Tesla's stock has declined by 40.8 per cent this year.(With Reuters Inputs)

Tesla TSLA.O has cut prices by nearly $2,000 across its models in China, after price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against cheaper Chinese EVs.Elon Musk's EV maker cut the starting price of the revam

Tesla Inc. spent the weekend cutting prices of its models across China, Europe and the US amid slumping sales and a glut of inventory.