firstname.lastname@example.org (Huileng Tan)
- Tesla car orders are at their highest level since the start of the year, Tesla CEO Elon Musk said in a call Wednesday.
- That’s thanks to Tesla cutting prices for its electric vehicles earlier in January.
- Tesla reported better-than-expected fourth-quarter results on Wednesday.
from Tesla massive price cuts are working — the automaker’s electric vehicle orders are at their highest year-to-date level, Tesla CEO Elon Musk said in a conference call with analysts on Wednesday.
“Fundamentally, the price really matters. I think there’s just a lot of people who want to buy a Tesla car, but can’t afford it,” Tesla CEO Elon Musk said during the interview. a conference call with analysts on Wednesday, according to a transcription. “And so these price changes really make a difference to the average consumer.”
You’re here slashed prices for its vehicles in global markets earlier in January, with up to 20% off for the Model Y SUV in the United States. Moving angry Tesla owners who purchased their vehicles before the rebates.
But price adjustments are driving demand, with orders coming in at nearly double the rate of production, Musk said on the call.
In response, Tesla has raised the price of its Model Y. The Model Y is now $500 more to $53,490 – after a $13,000 price drop earlier this month.
Musk added that Tesla’s goal has always been to make cars “affordable for as many people as possible.”
Tesla announced better than expected results for the fourth quarter ending December 31 with revenue of $24.32 billion, beating analysts’ expectations of $24.16 billion, according to data from the Institutional Broker Rating System on Refinitiv.
“We think demand will be good despite likely a contraction in the overall auto market,” Musk said on Wednesday’s call. That’s even though he predicts a “pretty tough recession this year.”
Tesla shares were up 5.5% at $144.43 in after-hours trading on Wednesday.