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Sunday, April 21, 2024
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Why Tesla Took The Lead In Cutting Prices — Elon Musk Explain

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Tuesday explained why it started the price cut war in the EV market and not any other automaker.

What Happened: “Other carmakers have a delayed reaction to the market, as they ship to dealers, rather than selling direct,” Musk wrote on X, formerly Twitter. The CEO was responding to alleged reports of Mercedes Benz increasing discounts on some vehicles.

Tesla has a direct sales style of functioning which means it sells directly to customers without using third-party dealerships. According to Musk, this provides the company with the ability to react to ...

Full story available on Benzinga.com


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