Hyperdrive
Tesla Slashes Prices of Key Models Again Ahead of Earnings
- Carmaker marks down Model 3, Y for the second time this month
- Investors expect reductions to take a toll on profit margins
This article is for subscribers only.
Tesla Inc. is cutting prices in the US for the second time this month and just ahead of its latest earnings report, further demonstrating Elon Musk’s willingness to sacrifice profitability for demand.
The Austin, Texas-based company marked down each version of its Model Y sport utility vehicle by $3,000. It also cut the cost of the base Model 3 by 4.7% to less than $40,000 for the first time in years.