The market for electric cars is weakening worldwide. Tesla in particular is under pressure. In the world’s largest car market in China, domestic brands are becoming more popular.
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The US electric car manufacturer Tesla has increased its sales prices due to declining demand China and the USA reduced. According to information on the car manufacturer’s official website, Tesla models have become around $2,000 cheaper in China. Price cuts of a similar magnitude had already been announced in the USA on Friday. There, Tesla also reduced the price of its Full Self-Driving driver assistance software from $12,000 to $8,000.
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The market for electric cars is currently weakening worldwide. Tesla also started the year with a significant decline in sales. For the first time in almost four years, the company sold fewer vehicles than in the previous period. The domestic manufacturer BYD is also becoming more popular on the Chinese market. Several new manufacturers and the growing range of electric cars from established manufacturers are also increasing competition on the market.
Musk postpones trip to India
Tesla and, not least, Musk, who is present in public, have long been exposed to skepticism from investors. The manufacturer does not yet offer any cheaper models. At short notice, Musk canceled a trip to India on Saturday. According to industry insiders, he wanted to announce an investment in a Tesla factory there. “Unfortunately, important commitments require the postponement of travel to India.” But he was looking forward to a visit “later this year,” Musk wrote on X.
Tesla will present its quarterly figures on Tuesday. A week ago, Tesla announced that it would cut more than one in ten jobs worldwide, including in Grünheide in Germany.