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.
brilliant move actually. Tesla's have pretty good margin in them. With a recession looming, Tesla will move product because of this price cut, which they can afford, and will pull away sales from the competition. Lets hope this results in a price war for al of us waiting to buy
TechInsider More like all the other brands of EVs have their back against the wall 😂🤣
Teslas are off my radar. There are many exciting designs by other manufacturers.
Yes, he raised the price $20,000 then lowered it $15,000!
TechInsider No, it’s a sign of a responsible businessman doing what’s necessary due to increased interest rates and difficult economic times. Tesla will survive and come back even stronger.
Kia EV6 Tesla
Bullshit.
Yep because his shareholders and and pre-twitter fans are the anti-free speech problem.
TechInsider No. It’s a sign that supplies and parts are lower-prices. Note the recent car price increases were due to parts price increases.
Cheaper by 1000$,
always spinning something bad. Tesla this, bad, Elon that, bad. Tesla's price cuts are a good thing for consumers, right? Bad for the old auto-makers? shit article.
Not per the T-Bros--'Brilliant scheme to take over the world!'
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I performed magic tricks for Elon Musk at a PayPal reunion partyInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Next article: I'm a waiter who served Elon Musk coffee in 2006. Here's what happened.. You are a disgrace of corrupt media BI 🤥 Talk about something else already. I don’t need to hear magician gossip.
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Elon Musk used Tourette's syndrome as an insult — and it's not okayElon Musk used Tourette's syndrome as an insult. As someone who lives with it everyday, I don't find it funny. An insult is not supposed to be funny. I think Donald Trump was ridiculed as being afflicted with Tourette's frequently. Aspergers is also featured in South Park. SouthPark elonmusk TrumpWarRoom Wow is there anything else we can pick on Elon Musk for? If we scrutinized our politicians this strongly we would have a whole lot better system in the world today... why do our politicians get a free run?
Source: BusinessInsider - 🏆 729. / 51 Read more »