Following the price cut on October 24 last year, at the beginning of this year, Tesla’s domestic models once again cut prices sharply, and the prices of main models such as Model 3 and Model Y hit a record low. Then the topic of "Tesla’s Price Reduction" rushed to the top of Weibo’s hot search.
In contrast, with the termination of subsidies for the purchase of new energy vehicles, recently, major domestic new energy vehicle companies have started a new wave of price increases. According to incomplete statistics, BYD, Chery, Changan, North-South Volkswagen, BMW and other car companies have all adjusted the prices of their new energy vehicles, with the highest increase reaching 20,000 yuan.
According to The Paper, regarding whether Xpeng Motors will follow up the price reduction, relevant people in Xpeng Motors replied to the reporter that Xpeng Motors has its own sales rhythm and will decide the product price and promotion activities according to its own situation, instead of following other car companies.
◆ Tesla once again announced a big price cut. Netizen: Crazy!
On January 6th, Tesla announced that the price of Tesla’s domestic models had been greatly reduced. The starting price of Model 3 was 229,900 yuan, and the starting price of Model Y was 259,900 yuan, which was the lowest in history, and the delivery period was 1-4 weeks. Among them, the biggest decline is the Model 3 rear-drive version, which decreased by 36,000 yuan, a decrease of 13.54%; The most "embarrassing" unit price reduction is the Model Y long-life version, which dropped by 48,000 yuan, a decrease of 13.41%.
In addition, Tesla also announced the brand-new Model S and Model X prices, starting from 789,900 yuan and 879,900 yuan respectively.
In this regard, netizens have said: Crazy!
Some netizens said: "Model Y lost 50,000 yuan in half a year", "30,000 yuan in half a month" and "This is not going to do business back" … …
Just on October 24 last year, Tesla suddenly announced the adjustment of the selling price, of which the Model 3 rear-wheel drive version sold for 265,900 yuan, with a price reduction of 14,000 yuan; The Model Y rear-wheel drive version was lowered by 28,000 yuan to 288,900 yuan.
According to CBN, in the China market, Tesla started a "disguised price reduction" promotion in September last year. For car owners who completed the car pick-up from September 16th to September 30th, Tesla provided an insurance subsidy of 8,000 yuan, which can be directly used to reduce the car price. On October 24, Tesla suddenly announced that all domestic models would be lowered in price, with the range of reduction ranging from 14,000 to 37,000 yuan. Since then, Tesla has introduced insurance concessions and existing car preferential policies from time to time to boost demand. On January 1 this year, Tesla also launched a new year’s limited-time welfare. From now until February 28, the new car orders for Model 3 and Model Y will be completed, and you can enjoy a 6,000-yuan limited-time delivery incentive plan; If you buy the corresponding auto insurance through Tesla cooperative insurance institutions, you can also enjoy an insurance subsidy of 4,000 yuan. However, the new year’s limited-time welfare was terminated early because of this price cut.
At the same time, Tesla-related concept stocks have gone up. As of lunch break, Founder Motor’s share price rose by 1.63%, Saiwu Technology rose by 8.81%, and Wolong Electric Drive rose by 2.56%.
◆ The sales volume was less than expected and BYD "squeezed off the altar"?
One of the important reasons for Tesla’s multiple rounds of "price reduction" is that consumer demand is not up to expectations. Since the second half of 2022, news of Tesla’s sluggish demand has come out from time to time.
According to the data of the Federation, from January to September 2022, Tesla delivered a total of about 318,200 vehicles, with a market share of 8.2%; In the first eleven months of 2022, Tesla China delivered about 398,000 vehicles, and its market share dropped to 7.9%. In contrast, BYD’s share in the domestic new energy vehicle market has shown a rapid growth trend, and its market share has reached 31.3% in the first 11 months of 2022.
According to a report released by China Merchants Bank International (CMBI), Tesla’s average daily retail sales in China from December 1 to 25, 2022 decreased by 28% compared with the same period in 2021.
Some people think that Tesla has fewer models, which is suitable for industrialized production demand, which is convenient for controlling production costs and improving bicycle gross profit. However, in the era of intelligence, the market is increasing constantly, and it is obviously more and more difficult for a single model to meet the multi-level and multi-price product demand of consumers. In addition, the new car-making forces represented by "Wei Xiaoli" and the rapid start-up of mainstream car companies such as BYD and Ai ‘an have also become one of the important reasons for Tesla’s loss of market share in China.
Recently, Tesla announced the annual sales volume of 1.31 million vehicles in 2022, a year-on-year increase of 40%, which failed to achieve the previously set annual sales target of 1.5 million vehicles. In the global sales ranking of new energy vehicles in 2022, Tesla was also pulled down by BYD with a total sales volume of 1.857 million vehicles.
According to Jingjing.com, Troy Teslike, a Tesla production and sales data tracking service provider, said that Tesla’s global order backlog has been rapidly decreasing in recent months, and it has dropped to 190,000 vehicles by November 30, 2022, a decrease of about 33% from the previous month. This number was close to 400,000 vehicles at the end of August 2022 and close to 500,000 vehicles from March to July 2022.
In fact, since the third quarter of 2022, Tesla’s production and sales have begun to break the balance. The data shows that in the second quarter of 2022, Tesla’s global production was 258,000 units, and the delivery volume was 254,000 units. The difference between production and sales was only 0.4 million units. However, in the third quarter of 2022, Tesla produced 365,000 vehicles and delivered 343,000 vehicles, with a difference between production and sales of 22,000 vehicles. In the fourth quarter of 2022, the gap between Tesla’s production and sales further widened to more than 34,000 vehicles.
Although Tesla attributed this phenomenon to "the increase in the number of vehicles on the road", there are also views that Tesla is facing a decline in market demand. Mizuho Securities analysts wrote in a report: "In the short term, we think Tesla sales may be weak because of macro ‘ Against the wind ’ And weak consumer confidence may reduce the demand for high-priced electric vehicles. "
In addition, a few months ago, Wall Street generally expected Tesla to deliver more than 2 million vehicles in 2023. According to the Wall Street Journal, analysts have now lowered their forecast targets and believe that Tesla’s delivery in 2023 will be less than 2 million vehicles; Deutsche Bank lowered Tesla’s annual delivery forecast to 1.84 million vehicles, with an annual growth rate of about 40%, which was once again lower than Musk’s previous 50% growth target; Goldman Sachs lowered Tesla’s delivery forecast to 1.8 million units in 2023.
"Although Tesla’s production capacity is expected to reach about 2.4 million vehicles in 2023, the macro indicators in several regions where the company operates are slowing down. Tesla’s recent price cuts and insurance incentives also show that the company is facing a slowdown in demand on a global scale. " Goldman Sachs analyst Mark Delaney said.
Tesla’s share price experienced an "avalanche" in 2022, down 69% from the beginning of the year, twice as much as the Nasdaq index (34.61%), which is dominated by American technology stocks, and surpassed Facebook’s parent company Meta to become one of the worst technology stocks in US stocks in 2022.
As of the close of January 5, local time, Tesla’s share price fell by 2.9% to US$ 110.34, with a total market value of US$ 348.4 billion (about RMB 2.39 trillion).
It is reported that a few days ago, it was reported that Wang Chuanfu, chairman of BYD, set the sales target for 2023 as 4 million vehicles. This means that even if Tesla succeeds in achieving the 50% incremental target (1.965 million vehicles) in 2023, its annual sales will be less than half of BYD’s. This China car company, which once "survived into a mystery" in Musk’s eyes, may be gradually "squeezing Tesla off the altar".
According to national business daily
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