Last month, Telsa made headlines by significantly reducing the prices of its cars, with discounts of up to 20%. This move has stirred reactions across the automotive industry.

Following Tesla’s lead, Ford promptly adjusted prices on its electric SUV, the Mustang Mach-E. However, not all automakers have followed suit, with GM maintaining its pricing strategy.

The impact extends beyond new car sales, affecting the prices of used Teslas as well. This could potentially make electric vehicles more accessible to a wider audience.

While some Tesla owners may feel disappointed about missing out on the discounts, the company’s actions have garnered increased interest from potential buyers.

Investors have responded positively to Tesla’s price cuts, with the company’s stock rising by 48% since the announcement. This signifies a significant shift in the automotive market landscape.

Source: https://www.npr.org/2023/02/02/1152586942/tesla-price-cuts-ford-mach-e-gm-electric-cars-tax-credit