After 4 US price cuts, Tesla raises cost for older models
After cutting U.S. vehicle prices four times this year, Tesla raised them overnight on its slow-selling more expensive models
By AP News
Published - Apr 21, 2023, 04:57 PM ET
Last Updated - Jun 22, 2023, 04:55 AM EDT
DETROIT (AP) — After cutting U.S. vehicle prices four times this year, Tesla raised the cost overnight on its slow-selling more expensive models.
The hike could be an effort to appease investors, who dumped shares of Tesla on Thursday after its earnings and profit margins dropped due to previous price cuts.
Investors also expressed concerns Friday in a letter to Tesla's board that CEO Elon Musk is too distracted running his other companies, including Twitter and SpaceX, to effectively lead the electric car and solar panel company.
