Tesla recoils with a price rise in the US. The accounts for the first quarter found that with the price war strategy that it was carrying out, its margins have fallen to the lowest level in two years and that it earns less for each car sold. The benefit fell 24% until March, according to the accounts presented this week, which were a disappointment for investors and their shares sank 10%.
After six sales so far in 2023, the company led by Elon Musk has decided to raise the prices in the US of the Model X by 2.6%, to $97,490, and of the Model S by 2.9%, to $87,490. Dollars. Despite the rise in prices for these two models and their high-end versions, they are still between 16% and 23% cheaper than at the beginning of the year.
Tesla had cut prices for these cars by $5,000 earlier this month, days after reporting that deliveries of these vehicles plummeted 38% between January and March. Musk on Wednesday doubled down on the price war that began late last year by saying the electric vehicle maker will prioritize sales growth over profits amid a weak economy and increased competition from other brands. Just this week he had lowered the cost of the Model Y, his SUV, and the Model 3, a sedan.
The company scores a margin close to 20% for its sales, well above the 6.6% of General Motors or 4% of Ford. Musk said Wednesday that Tesla is not looking to put its competitors out of business, but to make its cars more affordable amid rising interest rates and persistent inflation.
