Tesla

2023 - 1 - 6

tesla model y

Post cover — Image courtesy of "Aljazeera.com"

Tesla cuts prices for second time in China as demand drops (Aljazeera.com)

Tesla also slashes prices in Japan, South Korea and Australia but so far holds them steady in Europe and US.

Tesla slashed prices for all its Model 3 and Model Y cars in China between 6 percent and 13.5 percent, according to Reuters calculations based on the website prices. The Model 3 is now the same price as BYD’s best-selling Han EV. Tesla implemented the price cuts days after Beijing ended a subsidy programme. The Chinese prices of the Model 3 and Model Y cars are now 24 percent to 32 percent lower than those in the United States, Reuters calculations showed, reflecting a range of factors, including material and labour costs. Tesla’s Shanghai plant, which was expanded last year, also exports vehicles to Europe. [another in October](/economy/2022/10/24/tesla-cuts-prices-in-china-to-boost-demand) and recent incentives for Chinese buyers, mean a 13 percent to 24 percent reduction in Tesla’s prices from September in its second-largest market after the United States, Reuters calculations showed.

Tesla's stock lost over $700 billion in value. Elon Musk's Twitter deal ... (WJCT NEWS)

The transformational automaker's market cap has dropped by a staggering amount over the past year. Blame new competition, sales that fell short of a lofty ...

But as a company that does, in fact, make cars — physical things people buy and drive around — Tesla managed to sell 1.3 million of them in 2022. There is also growing competition in China, a critical market for Tesla and other automakers. The word "stratospheric" was thrown around a lot as the stock price soared so high that it could not possibly be justified based on Tesla's revenues or production figures. At the high end of the market, familiar names such as Mercedes-Benz, BMW and Audi, as well as Lucid, Rivian and Polestar, are starting to cut into the territory of Tesla's pricier models. Now Musk has essentially become a professional Twitter troll, posting provocations and gleefully embracing some right-wing positions from his powerful perch atop the social media giant. That could be affecting sales, since liberal voters tend to be more likely to want to buy electric vehicles. Musk saw his own personal wealth drop sharply, though he still has more than $100 billion. It wasn't just Tesla that saw stock values slide. The electric-carmaker's stock lost 65% of its value in 2022. Tesla set new sales records; it grew deliveries 40%. The bad news for Tesla? That's not only bad for investors.

Tesla's Demand Troubles Spell a Terrible Start to the Year (Bloomberg)

Tesla Inc. · The Elon Musk-led EV maker's shares fell as much as 7.7% to $101.81 in early trading on Friday.

Earlier in the session, Tesla’s market capitalization dipped to around $321 billion, dropping below Meta’s roughly $334 billion. The Elon Musk-led EV maker’s shares fell as much as 7.7% to $101.81 in early trading on Friday. The stock later erased the losses to close up 2.5% as the broader

Tesla cuts price of Australia's two most popular electric vehicles (The New Daily)

Australia's two best-selling electric cars have had their prices cut by thousands of dollars in a surprise move by Tesla to counter growing competition in ...

Figures from the Federal Chamber of Automotive Industries this week showed Australian sales of electric vehicles nearly doubled in 2022, reaching 33,410 cars compared to 17,243 in 2021. The price reduction will also be passed on to Australian buyers who had already ordered one of the Tesla vehicles but had yet to receive it. Australia’s two best-selling electric cars have had their prices cut by thousands of dollars in a surprise move by Tesla to counter growing competition in battery-powered vehicles.

Tesla cuts prices in China for the second time in three months as ... (CNN)

The electric vehicle maker cut prices for all versions of its China-made Model 3 and Model Y on Friday, according to its website. The starting price for Model 3 ...

Previously, Tesla [(TSLA)](https://money.cnn.com/quote/quote.html?symb=TSLA&source=story_quote_link) had increased prices by several times in the past two years. The company’s shares ended 2022 down 65%, greatly cutting into CEO Elon Musk’s net worth. [slows to the weakest pace in decades.](https://www.cnn.com/2022/12/15/economy/china-economy-falter-before-covid-shift-intl-hnk/index.html) [had its worst day in two years](https://www.cnn.com/2023/01/03/investing/tesla-shares-weak-sales/index.html), dragged down by weaker-than-expected sales data globally. [(TSLA)](https://money.cnn.com/quote/quote.html?symb=TSLA&source=story_quote_link) reduced the prices of Model 3 and Model Y by as much as 9.4%. [Tesla](https://www.cnn.com/2023/01/03/investing/tesla-shares-weak-sales/index.html) has slashed car prices in China for the second time in less than three months, in an effort to boost sales amidst slowing demand in the world’s largest car market.

Is Now the Time to Go All-In on Tesla Stock? (Motley Fool)

Tesla (TSLA 2.46%) stock had a rough first day of the 2023 trading calendar year, falling 12.2%. But shares were down as much as 15% at one point during the ...

Tesla stock rose 743% in 2020 and then another 50% in 2021 for a two-year gain of -- wait for it -- 1,263%. In sum, now isn't the time to go all-in on Tesla stock. [Howard Smith:](https://www.fool.com/author/20074/) Investors have had high expectations for Tesla over the past three years, and have assigned it a correspondingly high valuation. That's a good reason not to jump in all at once. The valuation had gotten nosebleed, to put it lightly. But deliveries only increased 40%, leading investors to believe Tesla might not, in fact, meet its previous projections to average 50% growth over the next few years. The shortfall in deliveries came as demand has been impacted by increasing competition, slowing global economies, and the effects of COVID-19 spreading in China. Either way, the lower-than-expected delivery number adds yet another cause for concern to a stock that is down a staggering 59% in the last three months. However, the stock is still more expensive today than it was from 2016 to 2019 based on its tangible book value. However, the electric semi-truck race is just as much about cost and availability as it is about specs. And in the meantime, it's going to cost a lot of money to scale semi-truck production. Or could there be more pain ahead for the electric vehicle (EV) industry leader?