Tesla Cuts Model Y Prices in Europe and China After Weak Q1 Deliveries

Tesla reduced European Model Y prices by up to EUR 4,200 and Chinese prices by CNY 15,000 after first-quarter delivery figures missed consensus estimates by roughly 18%. The company delivered about 336,000 vehicles globally in Q1, versus expectations closer to 410,000. Shares fell 6.8% on the news.

Elon Musk's political activity in Europe has become a growing factor in buyer surveys. A Polestar spokesperson declined to comment on competitor impact, but the company reported a 31% year-over-year increase in European registrations for the quarter.