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Tesla’s price war: Elon Musk halves the price of driving assistants

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Tesla’s price war: Elon Musk halves the price of driving assistants

Tesla Model 3 and Model Y on display at the Everything Electric London 2024 show.

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Tesla has reduced the price of its FSD Supervised driver assistance software from $199 to $99 per month.

Elon Musk once said that the cost of Tesla’s FSD would only increase as it improved.

The discount comes after Tesla missed first-quarter earnings expectations.

This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by a real editor.

Tesla announced a price cut for its driver assistance software on Friday after vehicle sales for the first quarter of 2024 fell short of expectations were.

A subscription to Tesla’s full self-driving software – now called FSD (Supervised) to remind the driver that the system needs their attention at all times – is now offered for $99 per month, up from $199 previously -dollars per month.

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This is just one of several steps Tesla has taken recently to attract more people to the company’s Level 2 self-driving system, which requires a driver to constantly monitor the vehicle.

Elon Musk recently issued an internal memo instructing all Tesla employees to refer new customers to one short test drive” with FSD to take with you before handing over the vehicle upon delivery.

He reasoned that “almost no one knows how well the (monitored) FSD actually works,” says the memo, which Business Insider confirms.

In March, the company also announced that it would offer all U.S. customers a free One-month test of the FSD beta version would offer.

The newly announced discount could be Tesla’s controversial driver assistance software more accessible to its customers, which would be beneficial at a time when the company is failing to meet investor expectations and continues to work on improving its software.

In early April, Tesla said it delivered fewer cars in the first three months of 2024, selling 386,800 vehicles – about 90,000 fewer than investors expected. The company’s first quarter results mark its first Sales decline year-on-year for almost four years, BI reported.

More customers using Tesla’s FSD could also mean more data the company can collect to to improve its softwareso TechCrunch.

The discount also represents a departure, albeit a temporary one, from Musk’s expectation that Tesla’s full self-driving system would only become more expensive.

In 2020 Musk said on X“FSD’s value could reach $100,000 as it approaches full self-driving capability with regulatory approval.” It’s unclear whether Musk was referring to the price per vehicle.

For a moment, this prediction came true when Musk lowered the price of the FSD lifetime service to $12,000 to $15,000 in 2022, offering a monthly subscription option for $199. Last year, however, the company dropped the lifetime price to $12,000.

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A Tesla spokesman did not respond to a request for comment.

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