Recently, Tesla China's official website shows that the price of the new Model Y long-life all-wheel drive version has been raised by 10,000 yuan.
Recently, Tesla China's official website shows that the price of the new Model Y long life all-wheel drive version has been increased by 10,000 yuan, and its latest starting price is 313,500 yuan, while the price of the basic version of the rear-wheel drive model remains unchanged at 263,500 yuan. This is Tesla's first price adjustment after the launch of the new Model Y in January this year, causing the market to pay wide attention to its strategy shift.
cost pressure and product upgrades are the main reasons for price increases
The price adjustment synchronously launched a differentiated car purchase policy: for the rear-wheel drive version of Model Y, Tesla provides 3-year zero interest or 5-year ultra-low interest loan program, with a minimum monthly payment of 3,808 yuan; Model 3 will continue the 8000 yuan insurance subsidy and the 5-year zero interest policy for some models before March 31, 2025. Industry analysts pointed out that this move or to balance the potential impact of price increases on sales, while expanding the market penetration of entry-level models through financial programs.
, however, Tesla China did not directly respond to the reason for the price increase, but the official stressed the life and performance improvement of the new Model Y: the long life version of the CLTC can reach 719 km, the energy consumption is reduced to 11.9kWh/100km, and the 100km acceleration is increased to 4.3 seconds. The industry speculated that after the mass production of the model in Shanghai Super Factory since the end of February this year, new hardware configurations such as HW4.0 intelligent driving system and supply chain cost pressure may be the key driver of price adjustment.
The combination of falling global sales and bearish capital markets is pressuring
It is clear that behind the price adjustment, Tesla is facing multiple challenges. According to the latest statistics of the Passenger Association, in February this year, Tesla China's wholesale sales were 30,688 vehicles, down as much as 49% compared with the previous year; Sales in the United States fell 5 percent in February from a year earlier, while deliveries in Germany, the main European market, plunged 70.6 percent in the first two months of the year. In response to the above market performance, Goldman Sachs, Bank of America and other investment banks have recently lowered their price targets for Tesla's share price, citing weak sales, intensifying competition on China's intelligent driving track, and unclear progress on low-cost models.
It is worth noting that Tesla announced the FSD (full autonomous driving) limited time free trial on the same day, a move to try to boost the product appeal with software services. However, the optional function worth 64,000 yuan still faces fierce competition in the Chinese market from local car companies' standard smart driving solutions.
Tesla shares fell to a new low for the year
Weighed down by sales concerns, Tesla's U.S. stock has been bearish in recent days - on March 18, it closed down 4.79% to $238.01, and its market value shrank to $765.6 billion; On March 19, Tesla's US shares fell more than 5%, and its market value evaporated another $40.8 billion overnight.
The price increase of Model Y or Tesla's short-term strategy to cope with profit pressure, but in the context of the global electric vehicle price war continues and demand growth slows, its ability to maintain market share through product iteration and flexible pricing will become a key test of future quarterly financial results.
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