Tesla Adjusts Pricing Strategy Amidst Delivery Setback in the US Market
American electric car manufacturer Tesla reacts to disappointing delivery numbers by slashing prices on key models, with the Model 3 now starting at $38,990 and the Model Y at $48,490, signaling a strategic move in a challenging market.
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In response to lower-than-expected deliveries in the US market, Tesla has implemented a price reduction for its two flagship models. The Model 3 Rear-Wheel Drive, previously priced at $40,240, is now available from $38,990. Similarly, the Model Y All-Wheel Drive, previously priced above $50,000, is now offered at $48,490, according to information on the company's website.
The company's official statement on October 2 revealed that Tesla produced over 430,000 vehicles and delivered more than 435,000 during the July-September period. However, these figures fell short of market estimates and marked a decline from the preceding April-June quarter, where Tesla produced 480,000 vehicles and delivered more than 466,000.
Tesla attributed the sequential decline in volumes to planned downtimes for factory upgrades. Despite the setback, the company remains steadfast in its volume target of approximately 1.8 million vehicles for the year, as stated in an announcement last week. The move to adjust pricing may signal a strategic response to market challenges and a determination to meet annual targets amidst production adjustments.
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