The leader who once caused the ** war, but now no one pays attention to the price reduction. Tesla is facing serious challenges in the Chinese market.
High-frequency price reductions, but the discount is not as good as peers
In March 2024, Tesla carried out a round of price cuts** in the Chinese market, but it did not attract much attention. Since the beginning of this year, Tesla has carried out 3 price cuts or preferential activities, but the price reduction and preferential strength are inferior to competitors such as BYD and Ideal.
The product is aging and the competitiveness is declining
Tesla is facing a serious aging problem. Its main models, the Model 3 and Model Y, have been released for many years, and the competitiveness of their products has gradually declined. At the same time, Chinese auto brands have launched more competitive new products, and the number of products benchmarking Tesla's main models has increased to dozens.
TeslaGrowth is slowing and the future is fraught with challenges
Tesla CEO Elon Musk warned that Tesla's growth in 2024 is likely to be lower than last year, and rarely gave a specific sales target. In the oversupply of new energy vehicle market, Tesla needs to speed up product upgrading to remain competitive.
Wall Street is bearish, and the stock price is sharply**
This year, most of the "Big Seven" of U.S. technology stocks are still growing, while Tesla's stock price has fallen by 23%, which is the largest decline. Wall Street may still treat Tesla as a technology company, but its performance in China is increasingly similar to that of a traditional car company.
Future outlook
If Tesla wants to stay in the Chinese market, it needs to launch new products as soon as possible to enhance product competitiveness. At the same time, Tesla also needs to adapt to the increasingly fierce competition in the Chinese market and make more efforts in terms of products, services, etc.
Tesla price cuts, Chinese market competition, aging products, slowing growth.