) margins are likely to drop in the third quarter and take a bigger hit in the last three months of 2023, leaving investors fretting about more price cuts needed to boost demand.
Tesla has already cut U.S. prices of its Model 3 compact sedan and Model Y SUV in October. Last month it slashed prices of its premium S and X models and unveiled for some markets a restyled Model 3 with a longer driving range. “We are factoring in help from the recent decline in lithium prices. However, that likely falls short of offsetting the price cuts,” Langan said.Tesla pushed its Cybertruck launch event to the end of the year from September. Musk has said the truck’s design is hard to build.
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