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Tesla Cuts Prices Sharply as It Moves to Bolster Demand


Tesla has cut prices on its two most popular electric cars in the United States and Europe by as much as 20 percent in a bid to spur slackening demand.The move comes as Tesla faces increasingly stiff competition in the global market for electric vehicles.Tesla recently lowered prices in China and reported a global sales total for 2022 that was below analysts’ expectations. After the latest price cuts were reported, Tesla stock was down about 5 percent in early trading on Friday. The share price has fallen by roughly 70 percent since November 2021.The latest price cut on Tesla vehicles appeared on the company’s website late Thursday. The automaker now shows a high-end Model 3 Performance compact selling in the United States for just under $54,000, down from $63,000, a cut of 14 percent.The most …

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