Tesla’s Q1 Earnings Awaited (Image Source: iStockphoto)
Tesla announced significant price cuts for its Model Y, Model X, and Model S vehicles in the United States, slashing USD 2,000 off each model. This move comes shortly after the automaker’s first-quarter deliveries fell short of market expectations, despite being the world’s most valuable automaker.
Model Adjustments
According to the Reuters report, the base variant of the Model Y is now priced at USD 42,990, with the long-range and performance variants priced at USD 47,990 and USD 51,490, respectively. Similarly, the basic version of the Model S now costs USD 72,990, while its plaid variant is priced at USD 87,990. The Model X base variant is now priced at USD 77,990, with its plaid variant priced at USD 92,900.
Referral Program Conclusion
Tesla North America has announced the discontinuation of its referral program benefits across all markets after April 30. This program, which traditionally incentivizes buyers through referrals from existing customers, has been a common strategy among automakers to drive sales.
Tesla announced significant price cuts for its Model Y, Model X, and Model S vehicles in the United States, slashing USD 2,000 off each model. This move comes shortly after the automaker’s first-quarter deliveries fell short of market expectations, despite being the world’s most valuable automaker.
Model Adjustments
According to the Reuters report, the base variant of the Model Y is now priced at USD 42,990, with the long-range and performance variants priced at USD 47,990 and USD 51,490, respectively. Similarly, the basic version of the Model S now costs USD 72,990, while its plaid variant is priced at USD 87,990. The Model X base variant is now priced at USD 77,990, with its plaid variant priced at USD 92,900.
Referral Program Conclusion
Tesla North America has announced the discontinuation of its referral program benefits across all markets after April 30. This program, which traditionally incentivizes buyers through referrals from existing customers, has been a common strategy among automakers to drive sales.
Postponed India Trip and Workforce Reductions
Elon Musk, CEO of Tesla, has postponed his planned trip to India, where he was scheduled to meet Prime Minister Narendra Modi and unveil plans for entering the South Asian market. Additionally, an internal memo revealed that the EV maker is laying off over 10 per cent of its global workforce.
Cancellation of Affordable Car
Earlier reports indicated that Tesla had scrapped plans for a long-promised affordable car, expected to be priced at USD 25,000. This decision disappointed investors who had anticipated the vehicle to drive mass-market growth for the company.
First-Quarter Deliveries and Earnings Report
Tesla reported a decline in global vehicle deliveries for the first quarter, the first decrease in nearly four years, despite implementing price cuts in an attempt to stimulate demand. The company is set to report its first-quarter earnings on Tuesday, providing insights into its financial performance during this period.
Elon Musk, CEO of Tesla, has postponed his planned trip to India, where he was scheduled to meet Prime Minister Narendra Modi and unveil plans for entering the South Asian market. Additionally, an internal memo revealed that the EV maker is laying off over 10 per cent of its global workforce.
Cancellation of Affordable Car
Earlier reports indicated that Tesla had scrapped plans for a long-promised affordable car, expected to be priced at USD 25,000. This decision disappointed investors who had anticipated the vehicle to drive mass-market growth for the company.
First-Quarter Deliveries and Earnings Report
Tesla reported a decline in global vehicle deliveries for the first quarter, the first decrease in nearly four years, despite implementing price cuts in an attempt to stimulate demand. The company is set to report its first-quarter earnings on Tuesday, providing insights into its financial performance during this period.
