Apr 22 \u2013 Tesla has the cut its prices again in a number of major markets \u2013 including the US, China and Germany \u2013 as the electric car giant run by multi-billionaire Elon Musk faces falling sales.<\/p>\n
The move comes after it reported\u00a0a sharp fall in its global vehicle deliveries<\/a>\u00a0in the first three months of this year.<\/p>\n A price war has been intensifying between electric vehicle (EV) makers, with particularly fierce competition coming from Chinese firms.<\/p>\n Tesla is due to report financial results for the first quarter of 2024 after the US market close on Tuesday.<\/p>\n In a post on social media platform X<\/a>, formerly Twitter, Mr Musk said \u201cTesla prices must change frequently in order to match production with demand\u201d.<\/p>\n In China, the firm cut the starting price of the revamped Model 3 in China by 14,000 yuan ($1,934; \u00a31,562) to 231,900 yuan.<\/p>\n Prices of the Model Y, Model X and Model S vehicles in the US were cut by $2,000 (\u00a31,616) on Friday.<\/p>\n There were also price cuts in many other countries in Europe, the Middle East and Africa, according to the Reuters news agency.<\/p>\n BBC News has contacted Tesla for confirmation of the Reuters report.<\/p>\n The company triggered an EV price war over a year ago when it aggressively cut prices at the expense of profit margins.<\/p>\n The firm has been slow to refresh its ageing models while rivals in China, such as BYD and Nio, have been rolling out cheaper models. Chinese smartphone maker Xiaomi also\u00a0launched its first EV<\/a>\u00a0last month.<\/p>\n Last week, Tesla\u00a0announced plans to lay off more than 10% of its global workforce<\/a>.<\/p>\n