Tesla Stock Slides As Deep U.S. Price Cuts Add To Margin Concern

Tesla  (TSLA) – Get Free Report shares slumped lower Friday after the carmaker unveiled one more round of deep price cuts in its key global markets as investors worry over margin pressures heading into the group’s fourth quarter earnings report later this month.

Tesla will slash the worth of its Model 3 and Model X sedans, together with the Model Y crossover, by between 6% and 20% for U.S. customers, pegging the Model 3 at slightly below $53,000. The moves come parallel to the impact of a $7,500 federal tax credit for electric vehicle purchases put in place earlier this yr as a part of President Joe Biden’s Inflation Reduction Act. 

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