Tesla decrease all model prices for the second time this year
T esla Inc. reduced the prices of each vehicle once again in the US after adjusting prices throughout the first quarter, which resulted in an increase in sales. Each version of the company’s more popular model 3 and Y electric vehicles received a minimum $1000 discount and variants of its more expensive model S and X vehicles received a $5000 discount. It also unveiled a new Model Y base model with a starting price of $49,990. Following lineup cuts in mid-January, this is Tesla's second significant price reduction of the year. Elon Musk is willing to sacrifice Tesla's profitability to help keep up with rising interest rates and a possible recession. He is in a difficult position as incumbents like Ford Motor Co. and newer entrants like Rivian Automotive Inc. and Lucid Group Inc. struggle to make money at lower volumes. Musk warned that Tesla's supply-demand dynamic led to a 4% increase in deliveries and 18,000 more cars than it gave over to customers. Tesla achieve...