Tesla reduces EV prices globally.

Tesla has reduced prices for its electric vehicles (EVs) in key markets, including China and Germany, due to falling sales and increased competition from affordable Chinese EVs. The upgraded Model 3 in China saw a 14,000 yuan ($1,930) price cut to 231,900 yuan ($32,000), while in Germany, the price of Model 3's rear-wheel drive version was lowered to 40,990 euros ($43,670.75) from 42,990 euros. Tesla is also dealing with the impact of high interest rates on consumer spending for high-value items and preparing for its first annual decline in deliveries, as it plans to reduce its global workforce by over 10%.

April 21, 2024
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