In response to recent challenges, Tesla has announced price cuts on three of its models in the US, including the popular Model Y. The starting prices for the Model Y, Model S, and Model X have all been reduced, with the Model Y now starting at $42,990.
These price cuts come as Tesla’s stock has fallen below $150 per share, erasing all gains made in the past year. Industry analysts have been eager for Tesla to introduce a smaller electric vehicle, rumored to be the Model 2.
Earlier in the week, Tesla announced a 10% reduction in global staff and a recall of nearly 4,000 Cybertrucks due to a potential accelerator pedal issue. CEO Elon Musk postponed a trip to India to meet with the Prime Minister, citing heavy Tesla obligations.
Tesla is set to announce its first-quarter earnings on Tuesday, following a decline in worldwide sales in Q1. This marks Tesla’s first year-over-year quarterly sales decline in nearly four years. Stay tuned for updates on Tesla’s financial performance and future developments.
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