Tesla cuts prices on new models in U.S
Tesla has made significant cuts to the prices of new electric vehicle models in the U.S., according to listings on its website.
Driving the news: Elon Musk's firm has cut the price of its bestselling Model Y and Model 3 vehicles, along with its Model X sport utility vehicles and Model S luxury sedans.
The price changes could enable some buyers to qualify for the $7,500 federal tax credit that can be applied to many electric vehicle models.
The big picture: The price cuts come as Tesla experiences a declining market share and analysts say the firm is facing a "significant demand problem."
The company saw its stock plunge 65% in 2022, marking its worst-ever annual drop.
Our thought bubble: The latest price cuts, along with those in Germany, China and other Asian countries, add to the worries of a demand slowdown for Tesla at a time when investors are already casting doubt on Musk's leadership abilities, with Twitter taking more of his focus.