Tesla: New Price Reduction in China
The automotive market in China is showing the first signs of braking and slightly declined in July compared to June 2023. Only BYD was able to narrowly resist the trend and continued to grow minimally. And in terms of NEV vehicle sales, it leaves everyone else behind.
In China, prices end where they haven't even begun in Germany!
But Nio was also able to nearly double its sales at a low level. Tesla now has to defend its already strong market shares in an increasingly tough price war on the world's largest electric vehicle market. The Model Y starts at 33,164 euros before deductions, Long Range costs from 299,900 yuan, which is about 37,817 euros, and Performance comes in at 349,900 yuan, which is about 44,122 euros. (For comparison: In Germany, the current prices before deductions are 44,890, 54,990, and 60,990 euros!)
Tesla CEO Elon Musk initially plans to increase market share and, if necessary, "buy" it by accepting lower profits – especially since he can produce very cheaply. Later, updates and services around the vehicles are supposed to generate money. Other manufacturers are also planning to make money with services in the future – but the market is becoming increasingly weaker, and fewer and fewer customers can afford new cars at all – even in China.
What does this mean?
The very fat years are over in China too – especially for foreign brands. That's why Tesla continues to lower prices there.
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