Tesla Reduces The Price Of the Tesla Model Y, Perhaps Nigerians Can Take Advantage of it With the Removal of Subsidy

Since 2023 started, Tesla has cut down the price of Tesla cars, and this looks like Elon Musk’s strategy of increasing sales volume. Perhaps this is a perfect opportunity for Nigerians to coop a Tesla amidst a fuel price increase.

Tesla vehicles first emerged in the market about fifteen years ago. Many automakers are still trying to catch up with Tesla, even as Tesla makes the most sales from EVs. Yet, the car brand is trying to set the record even higher by reducing the prices of the Tesla in order to maintain that top position in the EV market.

In 2022, Tesla delivered over 250,000 Tesla Model Y and 240,000 Model S globally. But Elon Musk believes the company can double its strategy and deliver over 2 million cars yearly.

To meet this target, the brand has slashed the prices of the Tesla, and now, Tesla cars like the Model 3 sells below $40,000. Using an exchange rate of about N750 means you could get your hands on a Model 3 with less than N30 million today.

The consistent slash of Tesla prices could be of great benefit to Nigerians, considering the increase in fuel prices. Perhaps more Nigerians could take advantage of this. However, Eon could decide to slash the price even further, considering the Tesla boss prioritizes sales volume over profit.

During a quarterly earning call, Elon stated: “We’ve taken the view that pushing for higher volumes and a larger fleet is the right choice here versus a lower volume and higher margin.”