Mumbai :
While Tesla’s debut in the Indian market faces delays, the electric vehicle juggernaut has made significant price cuts in the United States and China, offering a boon to potential buyers.
This strategic move comes ahead of the company’s quarterly results announcement,
marking a notable shift in pricing strategy.
Price Reduction Across Models:
Tesla has announced substantial price cuts on three of its flagship models – Model Y, Model X, and Model S, in a bid to make its electric vehicles more accessible to consumers.
However, there have been no alterations in the prices of the Model 3 Sedan and the Tesla Cybertruck.
Cutbacks on Full Self-Driving System:
In addition to price reductions on vehicles, Tesla has also announced markdowns on its full self-driving system, albeit with a caveat that the system requires driver alertness and intervention.
The reductions range from $8,000 to $12,000, as per information available on the company’s website.
Elon Musk’s Vision and Challenges:
Tesla CEO Elon Musk’s ambitious promise of a fleet of robotaxis by 2020 remains unfulfilled, with the self-driving system still reliant on human oversight.
Despite initial projections, the system’s transition to full autonomy has encountered hurdles along the way.
Discounts in India:
Tesla’s price cuts extend to the Indian market as well, with discounts of up to ₹1.5 lakh announced on select models.
This decision comes amidst challenges and uncertainties surrounding the company’s entry into the Indian automotive landscape.
Strategic Response to Market Conditions:
The decision to reduce prices follows a significant decline in Tesla’s stock, with shares plummeting by $150, erasing gains made in the previous year.
This move reflects Tesla’s proactive approach in adjusting to market dynamics and maintaining competitiveness in the global automotive arena.
