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The price of new Tesla Model Y and Model 3 vehicles will soon increase in some of the company’s most important markets, such as the United States and China. This could stimulate customer demand and create a sense of urgency among buyers but also decrease sales volume. In addition, the ongoing global semiconductor shortage may have influenced Tesla’s decision to increase prices, as it has affected the production of many industries, including the automotive sector.

BYD, the world's largest electric vehicle (EV) maker by sales, has announced that the Chinese EV market has entered a consolidation stage, with some players being eliminated while others grab a larger share of the market. Wang Chuanfu, founder, chairman, and CEO of the Chinese carmaker, stated that this stage was inevitable as the supply of EVs exceeded demand, and a price war ensued. "Some players in the EV market will not last, while others will take a bigger market share," he said.

The financial markets are constantly in flux as institutional funds and private investors adjust their portfolios and explore emerging sectors. Beyond the daily fluctuations in individual indices, larger trends are also at play. These include geopolitical factors, economic conditions, and the persistent pursuit of safe and dependable returns.

One of this week's biggest stories was China's decision to scrap quarantines for foreign visitors starting January 8. Such quarantines were as long as three weeks at their peak and killed all prospects of foreign travel into China since the start of the pandemic.