On October 24, Tesla China official news said that the price adjustment of Tesla's Model 3 and Model Y on sale in mainland China will be adjusted from now on. The adjusted subsidy price is the starting price of Model 3 model 265,900 yuan; the starting price of Tesla Model Y model is 288,900 yuan, and the previous two models were 279,900 yuan and 316,900 yuan respectively, with a price reduction of 14,000 yuan and 28,000 yuan respectively; in addition, the price of Model 3 high-performance version has been reduced from 367,900 yuan to 349,900 yuan; the price of Model Y long-range version has been reduced to 357,900 yuan, and the Model Y long-range version has been reduced to 357,900 yuan, and the Model 3 has been reduced from 367,900 yuan to 349,900 yuan; the price of Model Y long-range version has been reduced to 357,900 yuan, and the Model 3 has been reduced from 367,900 yuan. The Y high-performance version has been reduced to 397,900 yuan, with a price reduction of 5%.
This is also the first time Tesla China has announced a price cut since its price increase in March this year, and the entire automotive industry is facing economic challenges of high inflation. Tesla CEO Musk also warned recently that the recession of the global economy of is expected to continue until the spring of 2024.
Tesla's US price has not been adjusted. The last time Tesla raised the price of electric vehicles in the United States was in June this year.
First Financial reporter checked Tesla's official website and found that the expected delivery date for ordering Model 3 is 4-8 weeks, and the expected delivery date for Model Y is 1-4 weeks. The shortening of the delivery cycle of
and Tesla's price cuts mean that Tesla may face the problem of greater production than demand in China. Although Musk has been refusing to acknowledge that Tesla is facing demand issues. However, with the increase in the capacity of production in Austin factory in the United States and Berlin factory in Germany, the export demand of Chinese factories will be greatly weakened. Whether domestic demand in the Chinese market can support the company's current huge production scale is obviously a test that Tesla will have to withstand in the future.
Tesla expects Austin production to jump to more than 100,000 vehicles by the end of the third quarter of 2023, and production in the Berlin factory will double at its current level to nearly 90,000 vehicles.
Tesla recently upgraded its Shanghai Super Factory production line, with a production capacity increase of 30% to about 22,000 vehicles per week. However, people familiar with the matter revealed that Tesla did not "fill" the production line of the Shanghai Super Factory, but instead controlled it to about 93% of the full-load production capacity. Currently, it produces about 20,000 electric vehicles per week.
In the third quarter of this year, Tesla delivered a total of 343,000 electric vehicles, including 325,158 Model 3 and Model Y models, accounting for nearly 95%. Tesla produced 365,000 electric vehicles in the third quarter.
However, in Tesla's third-quarter financial report released last week, there were signs of slowing growth. Supply chain and logistics challenges have affected Tesla's gross profit margin. Tesla's gross profit margin in the third quarter was 27.9%, down from 30.5% in the same period last year. After
's market value once reached $1 trillion last year, Tesla's stock price has fallen by nearly 40% this year, and its total market value has fallen to $670 billion.
It is worth mentioning that at the annual technology day held by Hon Hai Group last week, Hon Hai Group Chairman Liu Yangwei made a bold statement saying that he could consider OEM Tesla. On October 24, media reported that Hon Hai Group is sprinting into the electric vehicle industry, actively seeking Tesla OEM orders, and has recently begun to adjust its supply chain strategy. The news has not been confirmed yet.
