Tesla Inc (TSLA)

[Scumbag Fraudsters]

Tesla is about slashing prices and decreasing margins.

That's been the 2023 playbook thus far.

Reuters -- August 15, 2023

Tesla (TSLA.O) on Monday launched cheaper variants of its Model S sedan and Model X SUV with shorter driving ranges in the U.S., looking to increase sales as high borrowing costs hamper demand for expensive electric vehicles.

Tesla shares were down 2.6% on Tuesday, while rivals also lost ground as investors worried about a price war. Rivian (RIVN.O) fell by 3.5% while Lucid (LCID.O) lost 5.6%.

Tesla has already slashed prices of its vehicles in the U.S., China and other markets, prioritizing sales growth over profit margins.

The Austin, Texas-based company has also offered other incentives to reduce inventory in a strategy that CEO Elon Musk said was part of Tesla's recession playbook.

Tesla said the new variants will be available for delivery between September and October. The world's most valuable automaker sold 19% more of its older and higher-end Model X and S in the second quarter.

But it had last month said that lower average selling price and lesser sales of its more expensive models were weighing on its operating income and revenue.

abbo News -- August 15, 2023

Tesla, Inc. (NASDAQ: TSLA) has just introduced lower-priced versions of their flagship vehicles, the Model S sedan and Model X sport utility vehicle. These upgraded versions come with a price drop of $10,000 compared to their previous base prices.

Tesla has slashed the starting price of the Model S by 25%, or $26,500, since the start of this year. The Model X has also undergone a 27% price reduction, equating to a $32,500 drop.

The latest announcement follows on the heels of Tesla’s recent maneuver to slash prices in the competitive Chinese electric vehicle market. On Monday, the company slashed prices for the middle and high-end versions of the Model Y by 14,000 yuan ($1,900) in China. This unexpected price cut has sparked concerns about a renewed price war in the fiercely competitive global EV market.

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