The company dramatically cut prices on its cars on Thursday, part of a push from CEO Elon Musk to qualify some models for U.S. tax credits and increase sales volume in the face of weakening demand. tesla
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Drury said the new-vehicle price cuts will hit used cars immediately and could lower values even further. New-car buyers want new-car smell, he said, so pre-owned prices could fall more.Andrew Checketts, from Santa Barbara, California, said he took delivery of a seven-seater Model Y in early December after Tesla was “hounding” him with text messages promoting a $3,750 discount at the time. If he had waited one month, he could have bought the car for much less.
These downshifts in price also come as shareholders pressure Tesla and Musk to increase deliveries. The company missed sales targets for the last three quarters in a row, which has rattled investors already concerned about Musk’s stock sales and purchase of Twitter.
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