Tesla Keeps Up Price Trims
Two in a week in China market latest of series that started after new year.
The EV maker had recently agreed to a price war cease-fire with China.
IMAGE: Pexels/Pixabay
Tesla, battling to maintain electric-vehicle market share at home and abroad, cut prices on some models in China twice this week, according to news reports.
The Texas-based EV maker, the market leader in the U.S., cut prices on selected Model S sedans and Model X sports-utility vehicles in China by about $10,000. Two days earlier, it cut some Model Y midsize SUV prices.
Tesla has been slashing prices all year, sacrificing profits for margin. And most recently, it launched less expensive versions of models S and X with shorter ranges.
The EV maker had recently agreed to a price war cease-fire with China, but this week’s cuts show it was short-lived after Tesla’s sales there fell.
Originally posted on Auto Dealer Today
More Industry
First-Half Dealership Deals Up
Buy-sell activity shows that acquirers are looking for value and scale as many retailers seek to leave an increasingly competitive and complex market, Kerrigan Advisors reports.
Read More →
Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →