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Recently, Tesla ushered in a global layoff, affecting tens of thousands of people, when the layoff turmoil has not subsided, Tesla ushered in heavy news: global price cuts, or all system price cuts. In the U.S., Tesla slashed the prices of its Model Y, Model X and Model S models by $2,000 each, and cut the price of its Full Self-Driving (FSD) package by about a third in the U.S., from $12,000 to $8,000.
On April 21, according to Tesla's official website in China, the price of Tesla's Model 3, Y, S, and X products was reduced by 14,000 yuan. The price of the Model Y has been reduced to RMB 249,900, the price of the Model Y Long Range has been reduced to RMB 290,900, and the price of the Model Y Performance has been reduced to RMB 354,900. The price of the Model S has been reduced to 684,900 yuan, and the price of the Model S PLAID version has been reduced to 814,900 yuan. The price of the Model X was reduced to 724,900 yuan, and the price of the Model X PLAID version was reduced to 824,900 yuan.
At the same time, Tesla's official website in China shows that the price of the new version of the Model 3 has been reduced to 231,900 yuan, and the price of the new version of the Model 3 long range has been reduced to 271,900 yuan. Among them, the price of the new Model 3 is only 16,000 yuan more expensive than the Xiaomi SU7 standard version (215,900 yuan).
In addition, a Tesla spokesperson said that Tesla has lowered the prices of some models in Germany and other parts of Europe, the Middle East and Africa.
At present, the price war of new energy vehicles is fierce, which has become a distinctive feature of the auto market since 2024. Since the launch of Xiaomi SU7, car companies have seized market share by exchanging price for volume, and the price adjustment of new models has frequently appeared, and the price band of 200,000-300,000 yuan for new energy vehicles has been extremely competitive. According to incomplete statistics, since April, more than 10 new energy vehicle brands have announced price cuts, and some car companies have launched promotional activities such as replacement subsidies, zero interest, and zero down payment. Industry insiders said that Tesla's large-scale price cut was in response to fierce market competition.
As of Friday, Tesla's stock price closed at $147.05, down more than 40% this year. Talking about the current predicament, Morgan Stanley analyst Adam Jonas, who has long been bullish on Tesla, said that it may be time for CEO Elon Musk to return to old habits. In his latest report, he wrote: "Looking ahead to Tesla's first-quarter results...... Investors are starting to ask: Is it time to sleep on the floor again?) ("Sleeping on the floor" refers to Musk's difficult times at Tesla, often sleeping on the office floor overnight, as evidenced by multiple photos leaked before.) )
Jonas added: "Is Tesla exiting the (traditional) EV industry? This doesn't mean that Tesla won't continue to sell cars (including newly launched cars) for many years to come. But that's not the end of the game, Tesla's 50% annual growth target is no longer valid. ”
Recently, Tesla has indeed been "headwinds". Tesla's deliveries in the first quarter of 2024 fell short of expectations. It is rumored that the "low-cost electric car plan" has been suspended, and David Baron, a well-known Tesla investor on Wall Street, warned that if Musk abandons his long-term efforts to develop low-cost electric vehicles, then the agency's reasons for being optimistic about Tesla will be in jeopardy. Faced with such a situation, Musk seems to be betting on "autonomous driving", announcing that he will release a robotaxis on August 8, hoping to make a comeback. Wall Street and the market don't seem to be buying it, and Deutsche Bank and Barclays have successively downgraded their ratings and price targets.
Looking back at the development of the new energy vehicle industry from the "Tesla global price cut":
-- Distribution of global market share of new energy vehicles
In terms of market share, the global market share of new energy vehicles will reach 13.3% in 2022, of which China has the highest market share of new energy vehicles, reaching 24.4% in 2022, followed by Europe, with a market share of 17.3%. Compared with the average market share of 13.3% in the global new energy vehicle market, it can be seen that the market share of new energy vehicles in India and Japan is low, and the future market space is relatively broad.
-- Global production of new energy vehicles
From the perspective of new energy vehicle production, from 2019 to 2022, the global production of new energy vehicles continued to grow, from 2.356 million to 10.749 million, a year-on-year increase of 59.20% in 2022. Compared with the growth rate of 108.30% in 2021, the growth rate of global new energy vehicle production in 2022 will decline, and the explosive expansion cycle of the industry may have passed, and then it will most likely enter a stage of steady growth.
-- Global new energy vehicle sales forecast
According to EV Sales statistics, global new energy vehicle sales have maintained rapid growth, and global new energy vehicle sales will grow explosively from 2021 to 2022, reaching 10.82 million units in 2022. It is expected that global sales of new energy vehicles will reach 33.8 million units by 2026.
Cui Dongshu, secretary general of the passenger association, believes that the price war does not have an obvious effect on short-term sales. The frequent price reduction in the auto market has a great impact on the profits of related enterprises. The industry should maintain healthy and reasonable competition, with high-quality products and technological innovation breakthroughs as the competitive point.
Industry insiders said that 2024 is a critical year for new energy vehicle companies to gain a firm foothold, and the competition will be extremely fierce. At the same time, with the decline in the price of lithium carbonate, a key raw material for batteries, the cost of batteries has decreased, and the cost of building cars has decreased.
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