Post #150455

Tesla ramps up pressure on rivals with U.S., Europe price cuts Tesla (TSLA.O) has slashed prices on its electric vehicles in the United States and Europe by as much as 20%, extending an aggressive discounting strategy and challenging rivals after missing Wall Street delivery estimates for 2022. The move, which prompted a 4.5% fall in Tesla's shares in pre-market U.S. trade, came after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower prices to sustain volume growth at the expense of profit. Musk acknowledged last year that prices had become "embarrassingly high" and could hurt demand. The lower pricing across Tesla's major markets marks a reversal from the strategy the automaker had pursued through much of 2021 and 2022 when new vehicle orders exceeded supply. read more