Huge price reductions and increased availability are driving growth in the electric vehicle market, which saw record sales in 2023, as major manufacturers like Tesla, Ford, and General Motors lower their prices and pass on cost savings from raw materials to consumers.
Tesla has unveiled a restyled Model 3 with a longer driving range in China and other markets, putting pressure on rivals who are expected to release new electric vehicles soon.
Tesla has unveiled its updated Model 3 EV sedan in China, featuring a sportier exterior, improved battery range, and faster acceleration, although surprising many with a 12% price increase; the upgraded model is expected to boost sales and profit margins for the electric vehicle giant.
Tesla has lowered prices on its Model S and X vehicles, with reductions of 15-19% in the US and similar cuts globally, except for the recently introduced Standard Range model; the base price for the larger-battery versions of both cars is now cheaper than the smaller-battery versions, and the base model now has a larger estimated EPA range; additionally, all paint colors are now included in the base price, and due to changes in federal EV tax credit caps, the Model X can now be cheaper than the Model S after incentives.
Tesla has removed its Standard Range variants for the Model S and Model X, but has lowered prices for the remaining trim levels, making the Standard Range redundant.
Tesla has reduced the price of its Model X, making it eligible for federal tax credits that Elon Musk previously criticized.
Tesla is set to release a new $25,000 electric car, potentially revolutionizing the world of EVs with its affordable price and expected range of 250-300 miles on a single charge.
Tesla has adjusted its plans for the next-generation electric vehicles, including the development of a fully autonomous Robotaxi and an affordable model, both to be produced on the next-generation platform; production of these vehicles will take place in Austin, Texas instead of Mexico due to the unwillingness of engineers to relocate.
Americans' hesitations to buy electric vehicles (EVs) are largely due to concerns around charging, with surveys showing that a lack of charging stations is a significant barrier to purchase, but efforts are being made to expand and improve the U.S. charging landscape through major incentives, partnerships, and the development of a single charging standard like Tesla's NACS plug design.
Tesla is offering steep discounts on its current Model 3s ahead of the release of the refreshed model, leading to speculation of a price war in the electric vehicle industry.
Tesla continues to dominate the US electric vehicle market, outselling the combined sales of its 19 closest competitors during the first half of 2023, illustrating the company's significant lead and dominance in the industry.
Tesla may fall short of third-quarter delivery estimates due to factory shutdowns and soft demand, but analysts believe that upgrades and refreshed models in the coming months could boost sales and competition with rivals like Ford and BYD.
Tesla releases updated version of Model Y in China, featuring minor changes to the exterior and interior, including a new wheel design, with no change in starting price.
The Tesla Model Y and Model 3 are the top-selling electric vehicles in Europe, with the Model Y expected to become the most popular new passenger car by the end of the year.
Tesla has added a cheaper Model Y RWD to its US website, with a base price of $43,990, making it potentially the cheapest Model Y available in the US, after incentives, and it is speculated that the model uses Tesla's cheaper Lithium-Iron-Phosphate (LFP) battery.
Tesla has reduced the prices of its Model 3 and Model Y vehicles in the US by 2.7% to 4.2% in order to counter the slowing EV market and competition from other companies.
Tesla has once again lowered the prices of its Model 3 and Model Y vehicles, with the Model 3 now being the cheapest Tesla ever, making it an attractive option for buyers in the EV market.
Tesla Inc. has once again reduced the prices of its popular models in the US to boost demand and take advantage of improved supply conditions, with the company offering discounts of up to $2,250 on certain models.
Tesla has reduced the prices of certain Model 3 and Model Y cars in the US, as it aims to increase sales after falling short of delivery estimates.
Tesla has once again reduced the prices of its Model 3 and Model Y electric vehicles, indicating a possible shift or stabilization in the EV market and a response to increasing competition and production cost reductions.
The states of Washington, Oregon, Hawaii, Nevada, Colorado, New Jersey, Massachusetts, Maryland, Virginia, and California are leading in electric vehicle (EV) sales, with Tesla's Model Y being the bestselling car in California, raising concerns about the nation's aging power grid as EVs gain popularity and the transition to renewable energy sources is accelerated.
Tesla's sales of China-made electric vehicles decreased by 10.9% in September compared to the previous year, while Chinese competitor BYD experienced a 42.8% growth in passenger vehicle deliveries.
Tesla's share of the U.S. electric vehicle market has dropped to 50% as new competitors, including EV startups and legacy automakers, gain market share due to increased competition and the release of their own electric models.
US electric vehicle sales reached a new milestone in the third quarter, with a 50% increase from last year, but Tesla's market share is shrinking as other automakers see significant EV sales gains.
US electric vehicle (EV) sales reached over 313,000 in Q3, a nearly 50% increase from a year ago, with Tesla accounting for 50% of total sales, but its market share is decreasing; meanwhile, the overall EV market share reached 7.9%, driven by higher inventory, more product availability, and downward pricing pressure, according to Kelley Blue Book.
The average transaction price for new electric vehicles in the US has dropped over 22% compared to last year, driven by Tesla's price cuts, leading to increased demand and growth in EV sales.
The price for Tesla's tri-motor Cybertruck model may be higher than expected, potentially reaching over $105,000 including Full Self-Driving and additional fees.
Hertz's plan to order 100,000 electric vehicles from Tesla by the end of 2022 is slowing down as the company faces higher costs and maintenance challenges associated with EVs, leading it to consider purchasing EVs from other automakers like GM at a lower price point and with potentially lower incidence of damage.
