CALIFORNIA: Tesla Inc (TSLA.O) has slashed prices of its electric vehicles in the United States and Europe, doubling down on a discount drive it started in Asia as demand slows against the backdrop of a weakening economy.
In 2022, the Elon Musk-led company missed its target to grow deliveries by 50% annually as it struggled with supply chain constraints and a demand slowdown caused by growing recession fears. Still, Musk has said the carmaker could deliver 2 million vehicles in 2023 as price cuts boost demand.
China-made Tesla car sales rose 18% in January from a five-month low hit in December. February saw a 12.6% rise.
In February, however, the carmaker raised prices of the performance and long-range versions of its Model Y mid-size sport utility vehicles (SUV) in China. –Agencies
