- It’s hard to escape the news regarding Tesla CEO Elon Musk these days. Since he bought Twitter two months ago, the news hasn’t stopped — and it hasn’t stopped Tesla’s stock price from plummeting. It is down 45% since Musk bought Twitter and about 70% since the start of the year.
- Amid rumors of reduced demand, Tesla has begun offering incentives to new buyers. Some current owners are getting a 30-day trial of some advanced Autopilot features, usually as a paid upgrade.
- Tesla is also offering various discounts around the world, including $7,500 for Model 3 and Model Y buyers in December, plus 10,000 free Supercharge miles.
Tesla CEO Elon Musk’s strangely long trip to buy the social networking site Twitter continues to get longer and weirder. As the auto industry tracks what’s happening with the world’s most famous auto CEO’s microblogging site, Tesla shareholders aren’t exactly enjoying the ride. The price of a single TSLA stock will cost you just under $200 in early 2022. Today, the price is just over $123.
There are a number of reasons for that nearly 70% drop, but the most obvious recent impact has come from Musk’s public display on Twitter. Since Musk bought Twitter two months ago, the stock has dropped 45%. Musk’s sale of $3.6 billion in Tesla stock last week — and nearly $40 billion since the end of 2021 — didn’t help. Since then, Musk has promised not to sell any more Tesla shares for two years, but he has contradicted himself in the past.
Of course, Tesla is influenced by factors unrelated to Musk, and tech stocks have fallen overall this year. However, ABC News notes that the tech-heavy Nasdaq has only fallen by about half of that of Tesla as of January 1, 2022.
Another factor affecting Tesla’s share price is falling demand for its all-electric vehicles. In response, Tesla lowered the prices of some models and began offering some existing electric vehicle owners a free trial of the company’s Advanced Autopilot feature, a version of the driver-assistance. advanced by Tesla. autopilot, in 30 days. Advanced Autopilot features include navigation with Autopilot, automatic lane change and automatic parking and recall. These features are usually paid upgrades and require the installation of specific sensors. As noted by ElectrekTesla is moving away from installing ultrasonic sensors in every vehicle but has not yet updated its software to operate some of these enhanced Autopilot features (Automatic Parking, Summoning, and Smart Summoning) in Tesla vehicles only camera sensors.
As for the price changes for Tesla, the automaker began offering US customers a $3,750 discount on the Model 3 and Model Y models in early December. This amount has doubled, to $7500, last week for customers receiving this month. Tesla has also added another offer—10,000 miles worth of free energy at Tesla Supercharger stations—to electric vehicles delivered in December. Tesla buyers in other countries are also getting various discounts, Reuters note, including $5000 in Canada and about $850 in China.
This content was imported from a poll. You can find the same content in a different format or you can find more information at their website.
This content was imported from a poll. You can find the same content in a different format or you can find more information at their website.
