AutoBeta(AutoBeta.net)05/02 Report--

In the context of lithium prices constantly falling, Tesla has officially announced price increases, which is really unpredictable.

Tesla China shows that its Model 3 and Model Y models have risen by 2000 yuan. After the price increase, Model 3 starts at 232,900 yuan and Model Y starts at 263,900 yuan. In terms of delivery time, the current estimated delivery time for Model 3 is 1-4 weeks and Model Y is 2-5 weeks.

In response to Tesla's reverse price increase, some netizens said,"Will there be a big price cut in a few days","Up 2000 down 20,000","Starship bombing began to circle money"...

After entering April, Tesla set off a new round of price cuts around the world again, including Denmark, Singapore, Germany, China Hong Kong, the United States and other markets have announced price cuts, mainly involving Model 3 and Model Y, but not including the Chinese market.

On April 7, Tesla cut prices on all models sold in the United States, with two versions of Model 3 cut by $1000, starting at $41,990 and $52,990, respectively. The Model Y was lowered by $2000, starting at $52,990 and $56,990, respectively. In addition, Tesla launched a new Model Y in the United States at a lower price, equipped with AWD powertrain, priced at $49,990.

Therefore, market rumors say Tesla China will also usher in a new round of big price cuts, it is expected that Model 3, Model Y price reduction of more than 40,000 yuan, Model 3 will directly drop to less than 200,000 yuan. However, consumers finally failed to wait for 200,000 Model 3, although only up 2000 yuan, but still make people feel some difficult to understand, and this Tesla official announcement, but also by many netizens interpreted as "to clarify rumors with practical actions."

However, this price increase is not aimed at the Chinese market. On the same day, Tesla USA announced that the price of the Model Y long-range version rose to $50240, the Model Y high-performance version rose to $54240, the Tesla Model 3 rose to $40240 and the high-performance version rose to $53240. As for why Tesla increased its price, officials did not give an explanation.

Tesla has been profitable for 15 consecutive quarters, but its performance in the first quarter fell far short of expectations, raising concerns in the investment market about Tesla's future development. At present, Tesla shares at $161.83, with a total market capitalisation of $512.9 billion. Although Tesla is still the world's largest car company by market capitalisation, its market capitalisation has been halved from its peak.

In the first quarter of 2023, Tesla delivered 423,000 electric vehicles worldwide, up 36% year-on-year, a record high, but the growth rate has slowed significantly. During the reporting period, Tesla achieved operating revenue of US $23.33 billion, up 24% year-on-year and expected to be US $23.21 billion; net profit of US $2.513 billion, down 24% year-on-year, with market expectations of US $2.725 billion; gross margin of 19.3% and market expectations of 21.2%;

Insiders point out that Tesla's repeated price cuts around the world have had a certain impact on its profitability, even though the price reduction strategy has significantly increased sales, but has lowered gross margins. In response, Musk said on a post-earnings call that in the long run, 20% gross margin is still Tesla's bottom line, but in the short term, scale is more important to Tesla than profit. In addition, Musk also said that we do not consider attacking competitors through pricing, we only consider our overall strategy, whether people like our cars, whether we can afford our cars, whether we can improve our services to create greater value, and future zero-profit sales are possible.

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