Tesla has initiated price cuts in several key markets, including China and Germany, following reductions in the United States, as it navigates declining sales and heightened competition in the electric vehicle (EV) market, particularly against more affordable Chinese EVs. The price adjustments coincide with Tesla's recent announcement of a decrease in global vehicle deliveries for the first quarter, marking its first decline in nearly four years.

Notably, the starting price of the revamped Model 3 in China saw a reduction of 14,000 yuan ($1,930) to 231,900 yuan ($32,000), as displayed on the company's official website. In Germany, Tesla lowered the price of its Model 3 rear-wheel drive variant to 40,990 euros ($43,670.75) from 42,990 euros, maintaining a competitive stance in the market. Similar adjustments were observed in various other regions across Europe, the Middle East, and Africa, according to a Tesla spokesperson.