Tesla has decided to pull on demand levers in China with the launch of a new referral program in the market and cutting prices on Model 3 and Model Y. The TSLA Stock price is down in pre-market.
Over the last few months, there have been increased concerns about softening of demand for Tesla vehicles.
It was enough for CEO Elon Musk to address it during the conference call following the release of Tesla’s Q3 2022 financial results.
The CEO reiterated that “Tesla doesn’t have a demand issue”:
I can’t emphasize enough, we have excellent demand for Q4, and we expect to sell every car that we make for as far in the future as we can see.
In terms of demand softening for Tesla, we reported earlier this month that Tesla’s demand shouldn’t be seen as a concern until Tesla starts pulling on some “demand levers” – meaning that the automaker takes some action to actually create some demand.
Now we are seeing the tide changing for the first time in two years.
One of the biggest demand levers you can pull is reducing prices, and that’s exactly what the automaker is doing in China.
Today, Tesla reduced the starting price of its Model 3 built in China to 265,900 yuan (~$36,800) from 279,900 yuan. The Model Y SUV in China also saw a price reduction to 288,900 yuan from 316,900 yuan.
Furthermore, Tesla has pulled another demand lever in launching a new referral program in China.
Now Tesla has launched a version of the new referral program in China.
The automaker is calling it the ‘”Treasure Chest” Points Rewards’ program. Like the previous referral program, Tesla owners can get rewards if new buyers order through their referral links. The new buyers also get rewards through buying through these new referral links shared through the Tesla app.
The only difference is that instead of directly receiving awards, like free Supercharging miles, both the Tesla owner and the person who made the referral receive “points,” which can later be exchanged for awards like in-vehicle software upgrades, Tesla accessories, or free Supercharging miles.
The points also enter Tesla owners into quarterly and annual raffles.
Here are the prizes for the first quarter 2023 raffle:
Tesla Texas Belt Buckle, worth 998 yuan, 89 copies in total
Tesla Model S stroller, valued at $5,999, five copies
The third-generation home charging service package (national standard 40 meters installation service), worth 8,000 yuan, a total of five copies
A 24-month right to use the in-vehicle software upgrade package “Fully Autonomous Driving Capability,” worth about 33,400 yuan, a total of one copy
And here are the prizes for Tesla’s first “annual sweepstakes”:
Tesla Shanghai Gigafactory VIP Visit Invitation Letter (with two immediate family members), worth about 5,000 yuan/person, five copies in total
The super charging mileage is 50,000 kilometers, worth about 24,600 yuan, a total of two copies
Three-year right to use new items in the Tesla boutique, up to a value of up to $45,000, one in total
Model 3 rear-wheel drive version or Model Y rear-wheel drive version of the vehicle for one year, worth about 47,500 yuan, a total of one
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The UAW union’s Stellantis Council met yesterday to discuss the beleaguered carmaker’s “ongoing failure” to honor the agreement that ended the 2023 labor strike, and their latest union memo doesn’t pull many punches.
In an email sent out by the UAW earlier today (received at 4:55PM CST), UAW President Shawn Fain wrote, “For years, the company picked us off plant-by-plant and we lacked the will and the means to fight back. Today is different. Because we stood together and demanded the right to strike over job security—product commitment—we have the tools to fight back and win … We unanimously recommend to the membership that every UAW worker at Stellantis prepare for a fight, and we all get ready to vote YES to authorize a strike at Stellantis.”
Kia promises the new EV9 GT will have “enormous power,” but that’s not all. For the first time, the Kia EV9 GT was caught with an active spoiler, giving us a sneak peek at potential new upgrades.
The brand’s first three-row electric SUV is already making its presence known in the US, helping push Kia to back-to-back record sales months. Meanwhile, a more powerful, sporty variant is on the way.
Kia confirmed the EV9 GT will top off the electric SUV’s lineup in April. Packing “enormous power,” the high-performance GT model can accelerate from 0 to 62 mph (0 to 100 km/h) in 4 secs.
With a “high-output” dual-motor (AWD) system, the EV9 GT can quickly pick up speed despite weighing over 5,000 lbs.
Kia also equipped it with other high-performance features, such as a reinforced suspension and electronic braking system, for better control and stability.
We’ve already caught a glimpse of the performance electric SUV out testing, revealing aggressive new bumpers and wheels. Now, a new design feature has been spotted.
Kia EV9 GT could come with an active rear spoiler
The latest video from HealerTV shows the EV9 GT with what appears to be an active spoiler. As the reporter noted, it could be similar to the one spotted on the Genesis GV70 Magma.
Tesla’s Model X also used to come with an active spoiler until it was dropped a few years back. Although the GT model was spotted with one, Kia could just be testing new features, so don’t get too excited yet.
Earlier this week, a video from HealerTV showed the front row of the EV9 GT, comparing it to the current GT-Line model.
Several differences can be immediately noticed, including a more aggressive, all-black design with a yellow stripe down the center of the seat.
Kia is set to launch the EV9 GT in early 2025. It will rival other performance SUVs like the Tesla Model X Plaid.
Although prices have yet to be confirmed, the GT model is expected to sit above the current GT-Line at $73,900. In comparison, Tesla’s Model X Plaid starts at $94,990 and can sprint from 0 to 60 mph in 2.5 secs.
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Consumer Reports and EV charging app Chargeway are working together to give drivers a better way to rate public chargers, report uptime, and address maintenance issues.
The technical collaboration with Chargeway is part of a larger effort called the EV Charging Community, which engages with a number of different EV advocacy groups including Plug In America, GreenLatinos, and Generation 180, and leverages the mobile app to rate public EV charging experiences based on various factors, with the findings reported back to industry stakeholders like EVSE manufacturers, CPOs, and utilities.
Be heard
“We are very excited to be partnering with Consumer Reports,” says Chargeway founder, Matt Teske. “From day one, Chargeway has focused on a driver first app design to provide easier EV charging experiences as well as transparency for what drivers can anticipate at (the) station they choose … we share Consumer Reports’ goal to give drivers a voice in the public EV charging reliability conversation. Now, instead of posting complaints on social media and feeling ignored, EV drivers can use the Chargeway mobile app to provide their feedback to the leading consumer advocacy organization.”
Consumer Reports says it’s already seen nearly a third of its 1,600 enrolled community members experience a problem with public charging, so it’s a real problem. “Charging stations are critical services, but when they’re out of order or barely functional, it wastes consumers’ valuable time,” explains Drew Toher, Consumer Reports’ sustainability campaign manager.
Consumer Reports points out that EV drivers who don’t use Chargeway can also enroll to be part of the community at this link.
Electrek’s Take
Chargeway founder Matt Teske is an old friend. He’s a good friend, too, so it’s great to see his top-shelf EV charging app starting to get some of the recognition it deserves. The CR tie-up and added visibility these ratings will give to industry stakeholders are only going to make things better for EV drivers everywhere.
That up there? That’s one of my early interview episodes of Quick Charge featuring a walkthrough of Chargeway+, another collab between Matt and Austin Energy. Enjoy!
SOURCE | IMAGES: Chargeway, Consumer Reports.
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