The EV company Tesla just lowered its car prices by thousands of dollars. The prices fell as much as 20%, and most existing Tesla owners are mad. Elon Musk, the CEO of Tesla, may have done this to try and increase demand, as demand has been falling recently. The price of used Teslas will also be hit hard. Model Y prices are down by nearly 20%, while Model 3 prices are down by 6.4% for some models, and 14.3% in other models. These price cuts could have also been implemented to get buyers a $7,500 tax credit for EV’s as the maximum price to qualify for this is $55,000 dollars. The Model Y and Model 3 both now qualify for this.
Source: https://www.marketwatch.com/story/tesla-slashes-prices-of-model-3-and-y-cars-in-the-u-s-11673600031
