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Elon Musk lowers the prices of his cheapest electric cars.  Tesla is starting a price war with China

Elon Musk lowers the prices of his cheapest electric cars. Tesla is starting a price war with China

Elon Musk lowers the prices of his cheapest electric cars.  Tesla is starting a price war with China

Tesla has announced a temporary price reduction for two of the three Model Y variants in the US. The discount on the cheapest car on offer was introduced just after similar reductions in Germany. Elon Musk is taking further action in the price war with producers of cheap electric cars from China.

The reductions are not huge, but – considering that they concern the relatively affordable Model Y – significant. Like , prices for the Model Y rear-wheel drive and Long Range variants have been reduced by $1,000, which is a 2.3 percent discount. and 2 percent compared to previous prices.

Elon Musk goes to war with China. The cheapest Tesla electric is even cheaper

The promotion applies only to the US market and is time-limited (until February 29). The current prices (after discounts) are $42,990 (for the base variant) and $47,990 (for the mid-range variant), respectively. The price of the best-equipped and most expensive Model Y Performance version has remained unchanged. Tesla also notes on its website that the prices of discounted models will increase “by $1,000 or more” after March 1.

A month ago, Elon Musk discounted the Model Y in Germany. As the agency writes, it happened after most of the car production at the Berlin factory was suspended due to a lack of components. This was the result of disruptions to maritime transport following attacks by Yemen’s Houthi fighters in the Red Sea.

The discounts introduced in the US are another element of Tesla’s year-long price war with producers of cheaper electric cars from China, primarily the automotive giant BYD. Tesla has been racing with BYD for the title of the most popular electric car brand in the world for months, and at the same time, the American manufacturer has to struggle with decreasing demand on the market.

In January this year Elon Musk (electric vehicle production in China is subsidized by the government). At the same time, he admitted that he expected the beginning of the year to be a period of “significantly lower sales growth” for Tesla because the American manufacturer would focus on improving its weak margin and working on a new electric car.

The billionaire admitted that, according to previous reports from Reuters, Tesla is to work on a cheap car from the crossover segment, which is extremely popular in Europe, i.e. cars that are small in size but look similar to SUVs. “Redwood” is to be based on a new platform and will reportedly be the cheapest electric vehicle in Tesla’s offer.

Tesla Model Y prices in Poland have remained unchanged and are PLN 194,990, PLN 224,990 and PLN 247,990 depending on the version. The cheapest version of Model 3 costs PLN 205,990.

Source: Gazeta

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