Musk says Tesla (TSLA) can lower EV prices 'if inflation calms down'
After a recent price hike, Musk has claimed Tesla bring the prices of its products down if global inflation slows.
Out of control inflation has hit the global economy hard over these last few months in 2022. Gas prices are on the fritz, major sectors of the cryptocurrency market have buckled, and the cost of just about everything has gone up quicker than ever. Tesla wasn’t exempt from these issues and even raised the prices of its vehicles recently. SpaceX and its Starlink internet service were affected as well. Still, Elon Musk claims its not necessarily a permanent situation. The Tesla CEO claimed the price of its electric vehicles may come down if the global economy can quell the chaos of the current inflation trends.
Musk shared this sentiment in a recent tweet responding to a Twitter user’s question about Tesla vehicle pricing on July 15, 2022. When asked if Tesla would consider lowering vehicle and product price following the end of pandemic and supply chain issues, Elon turned the subject towards ongoing global inflation. According to Musk, the company may be able to lower vehicle pricing “if inflation calms down.”
Elon Musk’s businesses have responded to ongoing inflation with raised prices over the course of the last few months. SpaceX hiked prices on its Starlink internet service back in March 2022 for both new subscribers and existing users. Inflation was noted as the direct cause of this price hike at the time. Then, in June 2022, Tesla followed suit with a raise on prices in the US. The company also began limiting pre-orders to certain regions on certain vehicles. So it seems, as with many companies, that Tesla and SpaceX have made moves to stay afloat amid the ongoing global economic issues.
It still remains very much to be seen if we’ll see global inflation stabilize any time soon. Even so, it will be interesting to see if Tesla prices go back down if inflation does smooth out. Stay tuned as we follow this story for new details and updates.
TJ Denzer posted a new article, Musk says Tesla (TSLA) can lower EV prices 'if inflation calms down'
Amid supply chain constraints and production delays in China, Tesla reported that it earned a $3.3 billion profit in the first quarter of 2022. Tesla turned that profit on just over $18.7 billion in revenue, the company announced. That represents an 81 percent increase year over year, compared to $10.4 billion in revenue in Q1 2021.
If you think inflation is bad for you wait till you see w what’s happening to these poor billionaires and their companies. Hopefully things turn around so they can bless us with more generosity.
hahaha ol' musky having another brain cell issue