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After the USA, Tesla is also reducing prices in Germany and China

After the USA, Tesla is also reducing prices in Germany and China
Up to 2000 euros in savings for customers in Germany.

In Germany, for example, the price for a Model 3 with rear-wheel drive is 40,990 euros, up from 42,990 euros, as a spokeswoman for the US company confirmed on Sunday. At 92,990 euros, the Model S is now 2,000 euros less than the last change in February.

In China, the drop was around $2,000 (1,877.41 euros), according to information on the carmaker’s official website. Price cuts of a similar magnitude were announced in the USA on Friday. On Saturday, Tesla also lowered the price of its driver assistance software in the US to $8,000 from the previous $12,000.

The market for electric cars is weakening worldwide. Tesla started the year with a significant decline in sales. It was the first time in almost four years that the company sold fewer vehicles than a year ago. The Chinese provider BYD is hot on Tesla’s heels. In addition, there is tougher competition from newcomers to the industry and the growing range of electric cars from established manufacturers such as VW.

Musk is therefore exposed to skepticism from investors, especially since a cheaper model is still a long time coming. There could be more clarity when quarterly figures are presented on Tuesday. Tesla announced a week ago that it would cut more than one in ten jobs worldwide.

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