Musk: Tesla may cut prices in ‘turbulent times’
On an analysts’ call, Musk says that he will cut prices again on Tesla’s vehicles due to “turbulent times”:
One day it seems like the world economy is falling apart, next day it’s fine. I don’t know what the hell is going on. We’re in, I would call it, turbulent times.
Tesla shares fall nearly 5% after Musk’s comments.
Tesla delivers record number of cars after price cuts
Tesla says it delivered a record number of vehicles for the three months from April to June, delivering 466,140 vehicles, 80% higher than last year. The company says it lowered prices in markets including the US, UK and China to compete with rival manufacturers. The company is due to report its financial results for the second quarter on 19 July. Musk,
We’re not ‘starting a price war’, we’re just lowering prices to enable affordability at scale.
Marked down Tesla vehicles spark China price war
Tesla marks down its prices, causing a price war in China, by selling vehicles there for as much as 50% less than what they cost in Europe and the United States. The Tesla Model 3 sedan and the Model Y crossover are both manufactured at a plant just outside Shanghai. The massive markdown is forcing rival vehicle manufacturers to slash prices also, in an effort to maintain sales.