Volkswagen Group CEO: No Plan To Cut Prices To Follow Tesla via insideevs.com
electric SUV on our shores, which is a direct rival to the Model Y. The ID.4 has a starting price of around $40,000, which already undercut the Model Y by ~$26,000 before Tesla's updated prices, and it's still ~$13,500 less expensive even after the cuts, butVolkswagen Group sells a host of EVs across the globe under a long list of different brand names.
With all of that said, VW Group CEO Oliver Blume told a German newspaper that the company has no plans to reduce its prices to follow suit with Tesla. According to"We have a clear pricing strategy and are focusing on reliability. We trust in the strength of our products and brands." In order to push forward and become a global leader in EVs that can truly challenge Tesla, the Volkswagen Group will have to grow while remaining profitable, Blume added. If the group's brands heavily discount their electric cars, they will likely lose money as part of the price battle. Moreover, it has already been proven in many markets that even if a VW EV is less expensive, Tesla's EV sales are more successful.
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