Tesla vehicles lower their prices by up to 20% in the United States and Europe

Tesla, the manufacturer of electric vehicles, announced that will reduce its prices in the United States and Europe by up to 20% to compete in the automobile market, which is increasingly entering more rivals.

The continuous collapse of the shares of Elon Musk’s company for a year, driven in part by the mogul’s management of Twitter, his latest acquisition, and in part by criticism of the safety of Tesla vehicles, may have motivated the decision to lower prices.

Elon Musk’s loss of fortune, in just one year, becomes historic

The company has already slashed prices twice in China in recent months and offered exceptional promotions in North America late last year.

Despite the fact that Tesla sold 1.31 million electric vehicles in 2022, the figure does not reach Musk’s forecasts, which planned to increase deliveries by 50% annually.

According to The Wall Street Journal, the discount now allows buyers of the US-made Tesla Model Y to take advantage of a tax break by putting the vehicle under the $55,000 limit. (YO)