Tesla Cuts Electric Car Prices as Shares Continue to Fall From Investing.com

Tesla (NASDAQ: This is a further adjustment of the price policy due to the bad economic situation.

The price cuts affect the Model Y, Model S, and Model X. However, prices for the Model 3 and the recent Cybertruck are unchanged, as reported by Electrek.

Tesla shares fell again on Friday and have fallen more than 40% since the start of the year.

The strategy is slashing the price of the Model Y, Tesla’s most popular model, to its all-time low in an effort to boost sales after a quarter that ended with lower-than-expected delivery numbers. The company’s quarterly report showed significant growth in unsold inventory.

The price change comes during a difficult period for Elon Musk’s company, which recently cut staff by 10% and saw the resignation of two top executives.

Investors were so disappointed that Tesla postponed the development of the cheap $25,000 car.

As a result, financial analysts have adjusted their forecasts for Tesla, while Deutsche Bank has changed its recommendation to Hold.

“We see Tesla’s change in strategy as a major shift and we are concerned that the stock may be going through a difficult period of change in the investor base that previously focused on Tesla’s electric car production and cost leadership may slip away and, over time, may . to be replaced by AI/technology investors who have a longer investment horizon,” Deutsche Bank analysts said.

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