Shares of Tesla (TSLA) are dipping on Monday as the company has slashed prices in China once again. The company has also made price cuts in Germany and the US as it faces declining sales and growing competition.
Stephen Dyer, Head of the Asia Automotive and Industrials Unit at AlixPartners, joins The Morning Brief to give insight into the Chinese and American EV markets and how Tesla fares among both.
Dyer predicts: "I do think there will probably be further price cuts. It’s an ironic situation that goes against the normal microeconomic expectations. So in China, when companies cut prices, in this case, many consumers say, let’s wait and see, we don’t think it’s at the bottom yet. So interestingly, it hasn’t sparked the demand that we would normally expect when you cut prices."
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