A Tesla charging station is seen, Sept. 28, 2023, in Woodstock, Ga. Tesla knocked roughly a third off the price of its “Full Self Driving” system, which can’t drive itself and so drivers must remain alert and be ready to intervene, to $8,000 from $12,000, according to the company website.
Tesla has slashed the price of its "Full Self Driving" system by about a third, dropping it from $12,000 to $8,000, as stated on the company's website. Despite its name, the system requires drivers to remain alert and ready to take control as it does not offer full autonomy.
Elon Musk, Tesla's CEO, initially promised in 2019 the deployment of a fleet of robotaxis by 2020. However, this ambition remains unfulfilled, and the system still relies on human supervision.
The price cuts, implemented on Saturday, coincide with Tesla's recent reductions of $2,000 on three of its five models in the United States. This move reflects the ongoing challenges confronting the electric vehicle manufacturer.
Among the vehicles affected by the price adjustments are the Model Y, a compact SUV and Tesla's best-selling model in the U.S., along with the older and pricier Models X and S. However, prices for the Model 3 sedan and the Cybertruck remain unchanged.
These price reductions followed Tesla's stock falling below $150 per share, erasing all gains made in the past year. The decline in Tesla's stock price, down approximately 40% this year, comes amidst declining sales and heightened competition. Lowering sticker prices is seen as an attempt to attract more potential car buyers.
