Tesla, which has traditionally been recognized by investors for its healthy profit margins among EV producers, now faces increased competition from legacy automakers — both domestically and abroad. Even after the just-announced price increases, the base price of Tesla’s Model S, X, and Y lineup is still 16% to 23% less expensive than at the beginning of 2023.
This comes on the heels of other Tesla news that the brand is recalling 1.1 million vehicles in China, as an over-the-air update to its regenerative braking systems has reportedly caused several accidents. At the same time, a press release announced that the brand’s premium Model S and Model X will now be available for sale in Japan for the first time ever.
Interestingly, only left-hand drive Tesla vehicles will be shipped to Japan, whose vehicles are typically right-hand drive. This idiosyncrasy might not hurt sales very much, however: Japan Motor reports that LHD vehicles are often considered status symbols among the Japanese.
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