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Tesla CEO Elon Musk Justifies Model Y Price Reductions: "The Truth Is, Most People Aren't Excited About Purchasing Automobiles"

Benzinga LogoBenzinga1w ago

 Tesla CEO Elon Musk Justifies Model Y Price Reductions: "The Truth Is, Most People Aren't Excited About Purchasing Automobiles" - Benzinga

Quick Summary:

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Sunday explained the temporary price cut on its best-selling Model Y SUV as an attempt to increase vehicle deliveries despite the seasonal lull in demand.

What Happened: “Since most people don't love to buy cars in the middle of winter, Tesla is offering a $1000 incentive to do so,” Musk said on X.

While factories need continuous production for efficiency, consumer demand is seasonal, Musk said, adding that it is the ‘essential quandary’ of manufacturing.Since most people ...


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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-02-12 @ 02:53:52 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 256 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 20040334

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Main Topics: Technology

Official Website: benzinga.com

Update Frequency: 41 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 8 hours ago

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #53

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