Summary
The Model Y now starts at $42,990 before incentives and excluding taxes and fees. The Model S entry price is $72,990 while the Model X starts at$79,990. The Cybertruck and Model 3 prices were left unchanged, with production of both EVs still low. Tesla cut the price of its Full Self-Driving service to $8,000 from $12,000. In September 2023, Tesla cut the FSD price from a peak $15,000 to $10,000 for a year. The FSD service is not yet fully autonomous. Tesla cut China prices on the Model Y and 3 by 14,000 yuan ($1,972) on Sunday local time. The Model S and X Plaid variants were slashed 21%-22%. The Model Y price is now 249,900 yuan ($35,194) Tesla CEO Elon Musk postpones trip to India. Musk was expected to announce plans for a Tesla factory in India. An India plant would let Tesla bypass hefty auto tariffs. But without a cheap EV, it's unclear how much demand there be in India, which has limited charging infrastructure. Tesla stock plunged 14% to 147.05 last week, plunging to its worst levels since January 2003. Investors will want to know what is Tesla's strategy for reviving growth. Most of all, will Musk confirm that Tesla is shelving a low-cost EV for years to come, prioritizing development of a robotaxi?