News
Tesla has slashed prices by one-fifth in one year, EVs improve by 18%
Tesla has slashed its prices by one-fifth in a single year, according to a new set of data from Kelley Blue Book, while electric vehicle transaction prices as a whole have improved by roughly 18 percent.
KBB tracks average transaction prices and how they compare to the previous month and the same month from a year prior.
Tesla’s average transaction price in July was $54,660, a 0.8 percent improvement from June ($55,105), but that is nothing compared to how much the automaker has improved since July of 2022.
A 19.9 percent decrease in transaction price as July 2022 saw Teslas sell for an average price of $68,215 is the most drastic change across the major automotive companies, according to the data.
Credit: Kelley Blue Book
The second-best decrease in price came from Honda, which saw a 2.6 percent decrease in average transactions from July 2022 to July 2023.
Electric vehicles as a whole also continued to drop in average transaction price from month to month at 0.4 percent, just below the industry average of 0.7 percent.
However, over the past year, EV prices have dropped 17.9 percent, going from $65,108 to $53,682.
KBB writes in its press release of the data:
“EV prices continue to fall, once again led by market leader Tesla. In July, the average EV ATP was $53,469, down from $53,682 in June and down from more than $61,000 in January. Incentives for EVs in July were 6.7% of ATP, or $3,755. EV ATPs are down more than 19% from their recent peak of more than $66,000 just a little more than a year ago in June 2022.”
Tesla started 2023 with massive price cuts that helped the automaker put pressure on industry rivals like Ford, which also cut prices in an effort to remain competitive.
Breaking: Tesla reduces Model 3 and Model Y prices in the United States
“The year-over-year decline of EV ATPs has been led by Tesla slashing prices on its popular models,” Research Manager for Cox Automotive, Rebecca Rydzewski, said. “Tesla prices are down nearly 20% versus a year ago, and other EV models, such as the Ford F-150 Lightning, have been following Tesla’s lead. While automakers report losing money on electric vehicles, they continue to aggressively pursue EV growth strategies.”
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News
Tesla Cybercab tests seem to be ramping up again
Elon Musk has stated that he expects the company to achieve a run rate of 2 million Cybercabs annually.
Tesla seems to be ramping the tests of its autonomous two-seater, the Cybercab, once more. This was hinted at in recent drone footage from both the Fremont Factory and Gigafactory Texas.
The fresh sightings of the Cybercab in the Fremont Factory and Giga Texas have renewed conversations about the vehicle potentially being built with manual controls today.
Fresh Cybercab tests
As noted by longtime drone operator Joe Tegtmeyer on social media platform X, he recently spotted a Cybercab driving on Giga Texas’ South River Road to the West side. Interestingly enough, the longtime Giga Texas watcher noted that this was the first Cybercab that he had seen conducting road tests in a while.
Over in the Fremont Factory, another Cybercab was spotted driving around the facility’s testing area. Similar to the Cybercab in the Giga Texas sighting, the vehicle that was spotted in the Fremont Factory seemed to be manually driven, at least based on the way it was being steered. This behavior has incited speculations among Tesla watchers that current Cybercab test units have manual controls, unlike their production version, which would have no steering wheel or pedals.
Cybercab production preparation
The sightings of Cybercabs around the Fremont Factory and Giga Texas bode well for the vehicle’s development and impending production. It does, if any, complement reports that Tesla has been busy setting up production equipment for Giga Texas’ Cybercab production line. At the same time, drone footage around the Giga Texas complex has also revealed that Tesla is stockpiling some Cybercab castings, a likely sign that initial test production of the vehicle might soon begin.
The Cybercab is expected to be Tesla’s highest volume vehicle, with CEO Elon Musk stating that he expects the company to achieve a run rate of 2 million Cybercabs annually. He also mentioned that the Cybercab will be easy to produce thanks to its Unboxed manufacturing process, so much so that its production would resemble a high-speed consumer electronics line instead of an automotive assembly line.
News
Tesla FSD gets first rave reviews from media outlets in Japan
As per the publication, FSD demonstrated excellent situational awareness and smooth control, at times even performing better than a human driver.
Tesla FSD may continue to get flak from mainstream media outlets in the United States, but in other countries such as Japan, Full Self-Driving is being welcomed with much appreciation.
This is, at least, as per recent reviews from domestic media outlets that have tried out the capabilities of FSD on real-world roads.
FSD gets recognition
FSD was recently reviewed by Japanese news outlet Nikkei, which experienced the system’s capabilities in Tokyo’s metropolitan area. As per the publication, FSD demonstrated excellent situational awareness and smooth control, at times even performing better than a human driver. FSD was also credited for properly reacting to sudden, unexpected things on the road.
As per the FSD review, for example, a bicyclist suddenly came barreling into a crosswalk at high speed from the Tesla’s blind spot. The vehicle recognized the cyclist immediately and responded in a safe and proper manner, prompting the reviewer to exclaim “Wow!” And when a vehicle ahead of the Tesla started backing up to perform a turnaround on a narrow street unexpectedly, FSD smoothly halted to avoid a collision. Overall, the reviewer noted that during the 30-minute drive, the Tesla Model 3 running FSD did not require a single intervention.
FSD’s impending Japan rollout
FSD is not yet rolled out in Japan, but the country seems to be paving the way for FSD to be released in the country. Just recently, reports emerged stating that Japan’s Land, Infrastructure, Transport and Tourism Ministry has allowed artificial intelligence-powered vehicles to be retrofitted with a software update that could enable the activation of their self-driving features.
In a post on X, Tesla Board Member Hiro Mizuno noted that this decision is no small matter as it could pave the way for a smooth rollout of features like FSD to Tesla consumers in Japan. “The Ministry of Land, Infrastructure, Transport and Tourism’s decision to allow retrofitting of autonomous driving through software updates is significant. Currently, Tesla is the only manufacturer actively pursuing this… this decision will make it easier for all manufacturers to introduce autonomous driving in Japan,” the former Tesla Board member wrote in his post.
News
Tesla extends Model Y L delivery estimates to December 2025
This suggests that the six-seat, all-electric crossover SUV has become fully sold out for both October and November.
Tesla’s new extended-wheelbase Model Y L seems to be getting a lot of traction in China. As per Tesla China’s order page, the estimated delivery date for new vehicle orders is now listed as December 2025.
This suggests that the six-seat, all-electric crossover SUV has become fully sold out for both October and November. This bodes well for the vehicle, considering that it is currently the most expensive trim of the Model Y available in China.
Model Y L demand
Launched in August and first delivered in September, the Model Y L seems to be gaining momentum among Chinese EV buyers who are looking for added space and flexibility in their family vehicles. The Model Y L features a six-seat configuration with a very comfortable second row and a third row that fits regular-sized adults. This makes it a good all-around family car.
While the initial weeks of Model Y L insurance registrations were quite low, the vehicle’s registrations have been picking up in recent weeks. As per recent reports, the Model Y L’s volumes have been growing so much that the vehicle has helped boost Tesla China’s wholesale numbers in September. Even more Model Y L units would likely be registered this October.
Strong local momentum
The Model Y L’s sellout streak highlights Tesla China’s continued strength in the world’s most competitive EV market. With new orders now having an estimated delivery date of December, it seems all but certain that Tesla China would be selling every Model Y L it produces this fourth quarter. This could then help bolster the company’s numbers this Q4 2025.
The Model Y L is only being sold in China for now, though the vehicle’s features and size would actually make it very competitive in markets where larger family EVs are in high demand. Priced from RMB 339,000 ($47,180), the crossover offers a blend of performance, practicality, and value that has seemingly struck a chord with consumers, both in China and potentially, even abroad.
Tesla Cybercab tests seem to be ramping up again
Tesla FSD gets first rave reviews from media outlets in Japan
Tesla extends Model Y L delivery estimates to December 2025
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