Today: May 29, 2024
Today: May 29, 2024

Tesla cuts the price of its "Full Self Driving" system by a third to $8,000

Share This
LA Post: Tesla cuts the price of its
April 21, 2024
The Associated Press - AP

NEW YORK (AP) — Tesla knocked roughly a third off the price of its “Full Self Driving” system — which can’t drive itself and so drivers must remain alert and be ready to intervene — to $8,000 from $12,000, according to the company website.

Tesla CEO and billionaire Elon Musk promised in 2019 that there would be a fleet of robotaxis on the road in 2020, but the promise has yet to materialize, and the system still has to be supervised by humans.

The cuts, which occurred on Saturday, follow Tesla's moves to slash $2,000 off the prices of three of its five models in the United States late Friday. That's the latest evidence of the challenges facing the electric vehicle maker.

Tesla reduced the prices of the Model Y, a small SUV which is Tesla’s most popular model and the top-selling electric vehicle in the U.S., and also of the Models X and S, its older and more expensive models. Prices for the Model 3 sedan and the Cybertruck stayed the same.

The price reduction came the day after Tesla’s stock dropped below $150 per share, wiping out all gains made over the past year. The Austin, Texas, company’s stock price has dropped about 40% so far this year amid falling sales and increased competition. Discounted sticker prices are a way to try to entice more car buyers.

Popular

Merck nears $1.3 billion cash deal for eye-drug company EyeBio, WSJ reports

Merck & Co is nearing a $1.3 billion cash deal to buy ophthalmology biotechnology company Eyebiotech in an agreement that could see an additional $1.7 billion in milestone payments, the

Merck nears $1.3 billion cash deal for eye-drug company EyeBio, WSJ reports

Brazil's Congress advances bill to tax low-cost online orders

Brazil's lower house of Congress approved on Tuesday the main text of a bill that would enact a new 20% import tax on international online purchases under $50, significantly down

Brazil's Congress advances bill to tax low-cost online orders

Soaring yields sour sentiment

A look at the day ahead in European and global markets from Kevin Buckland Soaring bond yields continued to unnerve equity investors on Wednesday, with benchmark U.S.

Soaring yields sour sentiment

Oil advances as major producers expected to keep output cuts in place

Oil prices rose in Asian trading on Wednesday on expectations major producers will maintain output cuts at a meeting this Sunday, and that fuel consumption should

Oil advances as major producers expected to keep output cuts in place

Amid merger speculation, Brazilian airline Gol parent talks with Azul

The parent company of Brazilian airline Gol

Amid merger speculation, Brazilian airline Gol parent talks with Azul

Related

Growing armada shipping sanctioned oil burns dirty fuel in a setback for clean-up efforts

Growing armada shipping sanctioned oil burns dirty fuel in a setback for clean-up efforts

Uber to offer Seine cruises, day trips in Paris during Olympics rush

Uber to offer Seine cruises, day trips in Paris during Olympics rush

In the Market: In Asia, people ask, how do I derisk from America?

In the Market: In Asia, people ask, how do I derisk from America?

JPMorgan carrying out safety check after explosion at Ohio building

JPMorgan carrying out safety check after explosion at Ohio building
- Advertisement -
Advertisement: Limited Time Offer