Teslas are finally getting cheaper. It's a sign Elon Musk's back is against the wall.
If you're in the market for a brand new Tesla, now might be the moment to splash out: Elon Musk just made it a whole lot cheaper to join the electric vehicle club.
And though Musk has previously talked about making Teslas more affordable, it's more likely that his hand has been forced by circumstance.Since taking over at Twitter, Musk has increasingly used the platform to make clear that he is unhappy with the way the Fed has been pursuing aggressive interest rate hikes to bring inflation back down to its target of 2%.
In response to a Twitter thread about consumers who took out loans before the interest rate rises took effect — and now face steeper repayments — Demand is a bigger problem than the Fed Moores added that when it comes to demand,"backlog orders have come down significantly for Tesla," making price cuts is"a good way to increase the immediate- and medium-term sales pipeline". Finally, Tesla is no longer the only name in the EV game. After years of being the only real player in the industry, traditional automakers have started to catch up, bringing rival offerings to consumers looking to switch from gas.
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