As sales slump, Tesla lowers pricing in important areas

Tesla has slashed its price many times, including in the US, Chinese, and German markets.

Elon Musk doesn't love his car maker's declining performances.

This is a follow-up to the company's reports, which showed that its quarterly global vehicle deliveries declined drastically in the first three months of this year.

In the electric vehicle market, price competition has been exacerbated because electric vehicle manufacturers based in China contribute a large portion of production.

Tesla will release its financial result for the first quarter of 2024 this coming Tuesday when the US market closes.

In China, the Tesla Model 3 revised cost is 14,000 yuan less than before, as the new car monotonically costs about 231900 yuan.

Ranges for the Tesla Model Y, Model X, and Model S, as driven in the US, dropped by $2,000 (£1,616) on Friday.

According to the information agency, in addition to the consumption cuts, there were also the first oil price cuts in various lakes in Europe, the Middle East, and Africa, as shown in Reuters.

The enterprise had waged an EV price war for over a year, pushing the prices down considerably despite the loss of already-cut profit margins.

The company has yet to gain traction with its old models, and its competitors in the Chinese market, ByD, and Nio, have been rolling out new models at lower prices to beat the company in the market.

Yesterday, Tesla revealed its plans to relieve the company from the responsibilities of the employees of up to 15% of its 50,000 global staff.

On the weekend, Mr Musk took for granted that he would postpone an expected India visit, which was supposed to meet him with Prime Minister Narendra Modi, because of lots of tasks Tesla.

The value of Tesla's shares has declined significantly, over 40%, since the beginning of the year