Tesla cuts EV Car Prices And Moves to Online Sales

5 Mar 2019

Tesla cuts EV Car Prices And Moves to Online Sales

Tesla cuts EV Car Prices And Moves to Online SalesTesla makes the world’s best-loved electric vehicles (EVs). What Tesla is to electric vehicles is what Ferrari is to race cars.

In 2018, Tesla’s Model 3 sold more than 1,38,000 units all over the world. Compare that with China’s BAIC (92,000 units) and Nissan Leaf (85,000 units).

Credit: Wikimedia Commons – Tesla 3

However Tesla has been facing both internal and external pressures. Recently, Tesla reduced prices of its EVs. Lets have a look at whats happening in the EV space:

In Sep 2018, Mercedes unveiled an Electric SUV to compete with the high end models of Tesla (S and X)
 	Last week, Volvo unveiled the Polestar 2, in direct competition with Tesla 3. This product will be made in China, at very low cost.
 	Tesla reduced the price of Model 3 (entry level car) to 35,000 USD.
 	It also slashed the prices of their expensive cars. Model S and Model X vehicles now cost $83,000 and $88,000, respectively, down from $96,000.
 	To ease their financial pressure, Tesla also announced plans to close almost all its stores and sell online.

Electric Vehicles (EVs) are environment friendly. They run on batteries, not on fossil fuels. (Fossil fuels are fuels that are extracted from deep inside the earth – like petrol and diesel). Most countries are moving to EVs, however the road and compliance infrastructure is not ready.

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Tesla makes the world’s best-loved electric vehicles (EVs). What Tesla is to electric vehicles is what Ferrari is to race cars. In 2018, Tesla’s […]

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