More woes for Tesla as Elon Musk is forced to slash prices in China, Germany ... trends now
Tesla has been forced to cut prices in the US and across the world just days after it said it would make 10% of its global workforce redundant, as it struggles with falling sales and higher competition in the EV market.
Prices of cars in the US, Germany and China were slashed over the weekend, and prices of bespoke Tesla software were also cut in the US.
The cuts come after Tesla, led by CEO Elon Musk, reported the first fall in global vehicle deliveries for the first time in four years.
In the US, Model X, Y and S vehicles had their prices cut by $2,000 on Friday. Just a day later, Tesla cut the price of its self-driving software from $12,000 to $8,000 in the US.
Over in China, one of the largest car markets in the world, the Model 3 was cut by 14,000 yuan ($1,930) to 231,900 yuan ($32,000), its official website showed on Sunday.
The cuts come after Tesla, led by CEO Elon Musk (pictured), reported the first fall in global vehicle deliveries for the first time in four years
Prices of cars in the US, Germany and China were slashed over the weekend, and prices of bespoke Tesla software were also cut in the US
Elon Musk hinted that more price changes may soon be on the horizon
In Germany, the rear-wheel-drive Model 3 had its price cut to 40,990 euros ($43,670.75) from 42,990 euros. Many other countries in Europe, the Middle East and Africa saw Tesla price cuts as well.
Elon Musk hinted that more price changes may soon be on the horizon, posting on X: 'Tesla prices must change frequently in order to match production with demand.'
But the latest round of price cuts comes just a week after Musk revealed he would be laying off 10% of his company's global workforce, leaving 14,000 without jobs.
Musk's
