Tesla CEO Elon Musk signaled that he would cut prices again on electric vehicles in 'turbulent times,' even as his all-out price war on automaker rivals squeezes the company's own margins
CEO Elon Musk signalled on Wednesday that he would cut prices again on electric vehicles in "turbulent times", even as his all-out price war on automaker rivals squeezes the company's own margins.
He said so again on Wednesday: "I think it makes it does make sense to sacrifice margins in favor of making more vehicles," adding that if macroeconomic conditions were not stable, Tesla would have to lower prices. Tesla reiterated its expectations of achieving deliveries of around 1.8 million vehicles this year, but said production in the third quarter would decrease slightly due to planned downtimes for factory upgrades.
Lower pricing, along with government tax breaks for EV buyers in the United States and elsewhere, drove Tesla's deliveries to a record 466,000 vehicles in the April-July period globally, but ate into its profitability.
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