Roller-coaster: Tesla hikes up prices days after the last cut
Tesla recently raised the prices of its electric vehicles just days after cutting them. This move has left many consumers puzzled as they try to understand the company's pricing strategies.
The first price cut
On February 23, Tesla announced that it was reducing the price of its Model 3 sedan to $35,000, a 6% drop from its previous price of $37,500. The price cut was made possible by the company's decision to close its physical stores and shift to online sales to reduce costs.
The unexpected price hike
However, just a few days later on February 28, Tesla increased the prices of its vehicles. The Model 3 Standard Plus saw a $500 increase while the Model S and Model X received $1,000 increases. The company cited "costs of doing business" as the reason for the hike.
The backlash from consumers
Many Tesla customers were unhappy with the sudden price increase, especially since it came so soon after the price cut. Some expressed their frustration on social media, with one stating, "I ordered a Tesla Model 3 two days ago and today I find out the price has gone up $500. This is ridiculous."
The impact on Tesla's image
The sudden price hike has also raised questions about the company's reliability and transparency. Some critics have accused Tesla of being a "roller-coaster" company – one that constantly changes its prices and policies, leaving consumers uncertain about what to expect.
Tesla's response
Tesla CEO Elon Musk defended the price hike, stating that the company had to raise prices to remain profitable. Musk also stated that the price cut was "extremely difficult" and that the company had to make cuts in other areas to make it happen.
What this means for Tesla
The back-and-forth with prices and policies seems to have affected Tesla's sales. According to a report by Reuters, the company's overall sales in the first two months of 2019 were down by 60% compared to the same period in 2018. This has raised concerns about the company's ability to meet its production and delivery targets for the year.
The future of Tesla
Despite the recent price fluctuations and sales decline, Tesla continues to innovate and push the boundaries of electric vehicle technology. The company is set to launch its Model Y SUV later this year and has plans for a fully autonomous self-driving car. The future remains uncertain for Tesla, but its impact on the automotive industry and renewable energy sector cannot be denied.
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