Tesla recently announced a price cut for its “Full Self Driving” system, slashing the cost from $12,000 to $8,000, as per the information available on the company’s website. Despite its name, the system still requires drivers to remain vigilant and ready to take control, as it has not yet achieved full autonomy and necessitates human supervision.
This reduction in price follows Tesla CEO Elon Musk’s ambitious 2019 promise of a fleet of robotaxis hitting the roads by 2020, a vision that has yet to materialize. Instead, the reality remains that human oversight is crucial for the system’s operation.
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The timing of this price adjustment is notable, occurring shortly after Tesla’s decision to lower prices on three of its five models in the United States. Among the models affected were the Model Y, Tesla’s popular small SUV, as well as the older and more expensive Models X and S. However, the prices for the Model 3 sedan and the Cybertruck remained unchanged.
These adjustments come amidst a challenging period for Tesla, marked by its stock dropping below $150 per share, effectively erasing gains made over the past year. With the company’s stock price plummeting by approximately 40% so far in the year, compounded by declining sales and heightened competition, Tesla appears to be resorting to discounted prices as a strategy to attract more customers to its vehicles.
