{"id":49170,"date":"2023-08-16T11:48:25","date_gmt":"2023-08-16T15:48:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/tesla-stock-is-slipping-again-the-price-war-is-raging-in-china\/"},"modified":"2023-08-16T11:48:28","modified_gmt":"2023-08-16T15:48:28","slug":"tesla-stock-is-slipping-again-the-price-war-is-raging-in-china","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49170","title":{"rendered":"Tesla Stock Is Slipping Again. The Price War Is Raging in China."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000721000\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Tesla cut prices in China for the second time in less than a week. With recent cuts, Elon Musk\u2019s electric-vehicle company is simply following the crowd. A price war is brewing in China. That prospect has investors nervous. The stock is down. <\/p>\n<p>\n        Tesla<br \/>\n       (ticker: TSLA) has reduced the price of its Model S luxury sedan in China to 754,900 yuan, or $103,463, from 808,900 yuan, according to its official Weibo account. It also cut the price of its Model X SUV to 836,900 yuan, or $114,702, from 898,900 yuan.<\/p>\n<div class=\"paywall\">\n<p>The move extends price cuts across Tesla\u2019s range in China after it implemented insurance subsidies and price reductions for its lower-end Model 3 and Model Y vehicles over the weekend.<\/p>\n<p>\u201cPrice war started again,\u201d wrote Citi automotive analyst Jeff Chung in a Sunday report. He counts cuts on 23 models from nine automakers in August. That was before Tesla cut prices. \u201cPrice war, [profit] margin and cash-flow concerns likely will be more of a swing factor entering into early 2024.\u201d<\/p>\n<p>Chung doesn\u2019t cover Tesla stock, but his thoughts about profit margins apply. Tesla reported a first-half operating-profit margin of about 10.5%, down from 17% in the first half of 2022. Price cuts around the globe are mostly responsible for the decline.<\/p>\n<p>Tesla started things off by lowering prices aggressively around the globe at the start of 2023. It hasn\u2019t stoped adjusting prices. On Tuesday, Tesla launched cheaper versions of the Model S and Model X for order on its website in the U.S., at price points $10,000 below the standard versions but with limited range.<\/p>\n<p>Tesla stock is down 1.6% in premarket trading on Wednesday, having slipped 2.8% on Tuesday.<br \/>\n        S&amp;P 500<br \/>\n       and<br \/>\n        Nasdaq Composite<br \/>\n       futures were flat. <\/p>\n<p>Price cuts are weighing on other EV stocks. U.S.-listed American depositary receipts, or ADRs, of Chinese EV makers are down, too.<br \/>\n        NIO<br \/>\n       (NIO) is 3.7% lower,<br \/>\n        XPeng<br \/>\n       (XPEV) down by 2.6%, and<br \/>\n        Li Auto<br \/>\n       (LI) 1.9% lower. Chinese EV leader<br \/>\n        BYD<br \/>\n       (1211. Hong Kong) stock is off 2.2% in overseas trading. <\/p>\n<p>Consumers might like a price war. Investors don\u2019t.   <\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/tesla-stock-china-price-cuts-e501b0c7?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla cut prices in China for the second time in less than a week. With recent cuts, Elon Musk\u2019s electric-vehicle company is simply following the crowd. A price war is brewing in China. That prospect has investors nervous. The stock is down. Tesla (ticker: TSLA) has reduced the price of its Model S luxury sedan [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":49171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-49170","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla Stock Is Slipping Again. The Price War Is Raging in China. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Tesla cut prices in China for the second time in less than a week. With recent cuts, Elon Musk\u2019s electric-vehicle company is simply following the crowd. 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