Tesla cuts prices in several markets internationally, Q1 2024 sees drop in sales for the first time in four years

Tesla has cut the prices of its vehicles in several markets internationally, The Guardian has reported, first in the United States, then followed by the same in China and Germany.

The American electric vehicle maker announced reductions in prices for the US market, beginning with the Model Y that dropped to US$42,990 (RM205,641), while its larger models the Model S and Model X which dropped to US$72,990 (RM349,155) and US$77,990 (RM373,073), respectively. The Model S and Model X are no longer sold in right-hand-drive markets.

Price cuts for the brand’s vehicles in the United States last Friday were followed by a reduction in price for the firm’s Full Self Driving ADAS suite from US$12,000 (RM57,406) to US$8,000 (RM38,271), which also saw the discontinuation of Autopilot in that market though Enhanced Autopilot continues to be available in Malaysia for RM16,000.

Tesla pricing in China followed suit, with the starting price of the updated Model 3 in China dropped by 14,000 yuan (RM9,246) to 231,900 yuan (RM153,159), according to the report by The Guardian citing Tesla’s official website. Germany also saw price cuts for Tesla vehicles, where RWD Model 3 pricing dropped from 42,990 euros (RM219,349) to 40,990 euros (RM 209,157).

Price cuts have also taken place in Europe, the Middle East and Africa, The Guardian cited a Tesla spokesperson as saying. The price reductions across markets has come after the EV maker’s global vehicle deliveries in the first quarter of this year recorded a drop for the first time in four years, according to the news outlet.

The American EV maker has also been in the news this week for its Cybertruck, which has been subject to a recall for a defect found with its accelerator pedal. This pedal includes a pad which could dislodge and become trapped in a depressed position in the footwell, thus causing the vehicle to accelerate unintentionally and potentially cause a crash.

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