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The HARD TRUTH about EVs
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<blockquote data-quote="Weather Man" data-source="post: 16904831" data-attributes="member: 137766"><p><h3>Musk says company was seeing orders "almost twice the rate of production".</h3><h3></h3><h3><a href="https://seekingalpha.com/news/3957556-tesla-cuts-us-prices-for-sixth-time-this-year-ahead-of-q1-results?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Tesla cuts U.S. prices for sixth time this year ahead of Q1 results</a></h3><p><a href="https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">TSLA -1.46%</a>Apr. 19, 2023 4:23 AM ET<a href="https://seekingalpha.com/news/3957556-tesla-cuts-us-prices-for-sixth-time-this-year-ahead-of-q1-results?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">42 Comments</a></p><ul> <li data-xf-list-type="ul">For the sixth time this year, Tesla (NASDAQ:<a href="https://seekingalpha.com/symbol/TSLA" target="_blank">TSLA</a>) is cutting prices in the United States for some of its Model Y and Model 3 vehicles amid concerns about its profit margins.</li> <li data-xf-list-type="ul">In the U.S., the prices of Model Y AWD, Long Range and Performance vehicles have been lowered by $3,000. The Model Y AWD will go from $49,990 to $46,990; long range from $52,990 to $49,990; and Performance from $56,990 to $53,990.</li> <li data-xf-list-type="ul">It has also lowered the price for the Model 3. The standard range RWD went from $41,990 to $39,990, marking the first time Tesla (<a href="https://seekingalpha.com/symbol/TSLA" target="_blank">TSLA</a>) offered a vehicle under $40,000. While some of the Model 3 variants are still eligible for the $7,500 federal tax credit, others have been reduced to $3,750, following the <a href="https://seekingalpha.com/news/3957032-meet-the-only-electric-vehicles-that-will-qualify-for-the-full-us-tax-credit" target="_blank">U.S. Treasury's updated battery sourcing guidance for EV tax credits</a>.</li> <li data-xf-list-type="ul">Over the past two quarters, the automaker has also slashed prices of its EVs in Mexico, Europe, Israel, Singapore and China, where it has sparked a price war among competitors.</li> <li data-xf-list-type="ul">When Tesla (<a href="https://seekingalpha.com/symbol/TSLA" target="_blank">TSLA</a>) reported its earnings for 2022 in January, Elon Musk said the company was seeing orders "almost twice the rate of production." Earlier this month, the automaker also <a href="https://seekingalpha.com/news/3955182-tesla-cuts-prices-on-all-us-models" target="_blank">cut prices on all U.S. models</a>, with Model 3 and Model Y sticker prices sliding by at least $1,000, and Model S and Model X prices falling by $5,000 or more.</li> <li data-xf-list-type="ul">Tesla (<a href="https://seekingalpha.com/symbol/TSLA" target="_blank">TSLA</a>) has additionally reduced the price of its base Model 3 by 11% in the <a href="https://seekingalpha.com/news/3955182-tesla-cuts-prices-on-all-us-models" target="_blank">United States</a> since the beginning of the year, with a 20% drop on its base Model Y.</li> <li data-xf-list-type="ul">Despite giving discounts in the United States, China, Japan, Australia, and South Korea to encourage demand, the company's <a href="https://seekingalpha.com/news/3953376-tesla-tops-deliveries-expectations-with-422875-cars-moved-in-q1" target="_blank">Q1 deliveries only increased by 4% to record 422,875 electric vehicles in the first quarter</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16904831, member: 137766"] [HEADING=2]Musk says company was seeing orders "almost twice the rate of production".[/HEADING] [HEADING=2][/HEADING] [HEADING=2][URL='https://seekingalpha.com/news/3957556-tesla-cuts-us-prices-for-sixth-time-this-year-ahead-of-q1-results?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Tesla cuts U.S. prices for sixth time this year ahead of Q1 results[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/TSLA?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']TSLA -1.46%[/URL]Apr. 19, 2023 4:23 AM ET[URL='https://seekingalpha.com/news/3957556-tesla-cuts-us-prices-for-sixth-time-this-year-ahead-of-q1-results?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']42 Comments[/URL] [LIST] [*]For the sixth time this year, Tesla (NASDAQ:[URL='https://seekingalpha.com/symbol/TSLA']TSLA[/URL]) is cutting prices in the United States for some of its Model Y and Model 3 vehicles amid concerns about its profit margins. [*]In the U.S., the prices of Model Y AWD, Long Range and Performance vehicles have been lowered by $3,000. The Model Y AWD will go from $49,990 to $46,990; long range from $52,990 to $49,990; and Performance from $56,990 to $53,990. [*]It has also lowered the price for the Model 3. The standard range RWD went from $41,990 to $39,990, marking the first time Tesla ([URL='https://seekingalpha.com/symbol/TSLA']TSLA[/URL]) offered a vehicle under $40,000. While some of the Model 3 variants are still eligible for the $7,500 federal tax credit, others have been reduced to $3,750, following the [URL='https://seekingalpha.com/news/3957032-meet-the-only-electric-vehicles-that-will-qualify-for-the-full-us-tax-credit']U.S. Treasury's updated battery sourcing guidance for EV tax credits[/URL]. [*]Over the past two quarters, the automaker has also slashed prices of its EVs in Mexico, Europe, Israel, Singapore and China, where it has sparked a price war among competitors. [*]When Tesla ([URL='https://seekingalpha.com/symbol/TSLA']TSLA[/URL]) reported its earnings for 2022 in January, Elon Musk said the company was seeing orders "almost twice the rate of production." Earlier this month, the automaker also [URL='https://seekingalpha.com/news/3955182-tesla-cuts-prices-on-all-us-models']cut prices on all U.S. models[/URL], with Model 3 and Model Y sticker prices sliding by at least $1,000, and Model S and Model X prices falling by $5,000 or more. [*]Tesla ([URL='https://seekingalpha.com/symbol/TSLA']TSLA[/URL]) has additionally reduced the price of its base Model 3 by 11% in the [URL='https://seekingalpha.com/news/3955182-tesla-cuts-prices-on-all-us-models']United States[/URL] since the beginning of the year, with a 20% drop on its base Model Y. [*]Despite giving discounts in the United States, China, Japan, Australia, and South Korea to encourage demand, the company's [URL='https://seekingalpha.com/news/3953376-tesla-tops-deliveries-expectations-with-422875-cars-moved-in-q1']Q1 deliveries only increased by 4% to record 422,875 electric vehicles in the first quarter[/URL]. [/LIST] [/QUOTE]
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