Tech

Tesla may cut car prices if inflation ‘calms down’

Tesla CEO Elon Musk said in a tweet on Friday that the electric car maker may lower prices if inflation “calms down.”

The Bureau of Labor Statistics reported a higher-than-expected inflation rate this week, with the consumer price index rising 9.1% from a year ago.

In March, Tesa raised the prices of all its car models in the US and China. Tesla raised the prices of its models again in June when it increased the price of its Model Y from $62,990 to $65,990.

musk tweeted in March that Tesla and its fellow company SpaceX “are seeing significant recent inflationary pressures in raw materials and logistics.”

In June, ahead of the second price hike, Musk said he had a “very bad feeling” about the economy and would have to cut 10% of Tesla’s jobs, according to an email originally reported by Reuters.

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Tesla may cut car prices if inflation ‘calms down’

Source link Tesla may cut car prices if inflation ‘calms down’

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