How Tesla's price cuts could spur an EV pricing war
Publishing timestamp: 2023-01-25 06:00:01
Summary
Tesla has recently cut prices of its vehicles in the US, making them more affordable and eligible for federal tax credits, but it has also caused a decrease in the resale values of cars for current owners. Analysts suggest that Tesla is prioritizing sales over profits and that it could lead to a price war in electric vehicles. Other automakers are feeling the pressure to offer more affordable EVs, and current Tesla owners are petitioning for rebates and credits. Interest in Tesla vehicles has skyrocketed since the price cuts, and Wall Street analysts are largely positive on the cuts.
Sentiment: MIXED
Keywords: business, autos, technology, breaking news: business, business news, elon musk, carmax inc, joe wilson, united states, detroit, transportation, general motors co, tesla inc,
Source: https://www.cnbc.com/2023/01/25/teslas-price-cuts-could-spur-an-ev-pricing-war.html