Tesla cut the prices of Model Y and 3 electric cars, hours ahead of first-quarter results from the company.
Tesla Inc. has made price cuts to its U.S. cars for the second time this month, with the latest reductions coming hours ahead of what’s expected to be a tough set of first-quarter results.
Tesla... Tesla Inc. has made price cuts to its U.S. cars for the second time this month, with the latest reductions coming hours ahead of what’s expected to be a tough set of first-quarter results. Tesla cut its Model 3 and Y prices in January, reducing Model S and X prices in March and again in early April, and began to offer a cheaper, short-range Model Y compact SUV. It has cut prices on its Model 3 sedan and recently expanded price cuts across Europe and Israel. Prices were also cut in China at the start of the year.
“While many investors have been hopeful that [first-quarter] margins might be bottom, we don’t believe that will necessarily be the case, particularly given our belief that further cuts are likely,” Bernstein analyst Toni Sacconaghi said recently.
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