On April 4th Beijing time, as of Monday's close, Tesla's stock price had plummeted by 6%. Previously, Tesla's first quarter delivery report had led some investors to worry that the company needed to further lower prices to drive sales and erode profit margins.
After a price reduction of up to 20% in January this year, Tesla's delivery volume in the first quarter reached a record high of 422875 vehicles, but only 4% higher than the previous quarter. Several analysts have expressed that these numbers have raised doubts among people. There are concerns about whether Tesla needs to further reduce prices this year in order to achieve CEO Elon Musk's goal of delivering 2 million vehicles by 2023.
Many investors believe that Tesla's recent price cuts reflect its structural cost advantage, which allows it to put pressure on competitors, generate huge sales, and dominate the electric vehicle market. We insist that price cuts have already and will harm the industry's profitability (including Tesla) But the existing enterprises have strong financial resources and are unlikely to make concessions
As of Monday's close, Tesla's stock price fell $12.69, or 6.12%, to $194.77. Its market value evaporated by $40.1 billion (approximately 275.8 billion yuan), leaving $616.3 billion
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