Tesla has marked down all of its vehicles again in the US after price tweaks throughout the first quarter yielded an incremental sales gain.
The company discounted each version of its higher-volume Model 3 and Y electric vehicles by at least $1,000, and versions of its costlier Model S and X vehicles by $5,000.
It also introduced a new base version of the Model Y starting at $49,990.
This is the second broad-based markdown for Tesla this year, following cuts across the line-up in mid-January.
Watch: A look inside Abu Dhabi's new Tesla taxis
Chief executive Elon Musk has said he is willing to sacrifice Tesla’s profitability to keep growing in the face of rising interest rates and a possible recession.
The company is in the rare position among electric vehicle makers of having big profit margins to work with, as incumbents including Ford and newer entrants such as Rivian Automotive and Lucid Group struggle to make money at lower volumes.
After Tesla’s first line-up-wide price cuts early this year, Mr Musk said on a January 25 earnings call that orders were running at almost twice the rate of production.
But the company was unable to sustain that supply-demand dynamic: deliveries rose about 4 per cent from the fourth quarter, and Tesla produced almost 18,000 more cars than it handed over to customers.
Despite a second round of discounts to the Model S and X in early March, Tesla delivered only 10,695 of those vehicles in the quarter, the lowest since the third quarter of 2021.
Following the latest changes, Tesla has now dropped the price of each of those vehicles by at least $20,000 and as much as $34,000 since the start of the year.
The US car maker also marked down vehicles in China earlier this year, triggering a price war in the world’s largest new-energy vehicle market.
It shipped a total of 88,869 vehicles from the Shanghai factory in March, preliminary data released earlier this week by China’s Passenger Car Association showed.
A significant price differential remains for Tesla’s vehicles in China, where a basic Model 3 starts at 229,900 yuan ($33,400) and the Model Y begins at 261,900 yuan.
While Tesla continues to outpace other car makers in global EV sales, it is facing stiffer competition than ever before from China’s BYD, with analysts at BloombergNEF expecting the Berkshire Hathaway-backed manufacturer to challenge for the number one spot this year.
Tesla field engineers heat test vehicles in Dubai — in pictures
Tesla also needs to pick up the pace to keep growing at the rate investors are used to.
Last year, the company fell short of its target for a 50 per cent average annual increase in vehicle deliveries, expanding by 40 per cent. Its growth rate slipped to 36 per cent in the first quarter.
The Austin, Texas-based company will report earnings on April 19.
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
Get Out
Director: Jordan Peele
Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford
Four stars
Killing of Qassem Suleimani
Read more about the coronavirus
MATCH INFO
West Ham United 2 (Antonio 73', Ogbonna 90 5')
Tottenham Hotspur 3 (Son 36', Moura 42', Kane 49')
Killing of Qassem Suleimani
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
Top 10 most polluted cities
- Bhiwadi, India
- Ghaziabad, India
- Hotan, China
- Delhi, India
- Jaunpur, India
- Faisalabad, Pakistan
- Noida, India
- Bahawalpur, Pakistan
- Peshawar, Pakistan
- Bagpat, India
'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Sholto Byrnes on Myanmar politics
Killing of Qassem Suleimani
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
