Tesla cut the prices of its Model Y, Model X, and Model S vehicles in the US by $2,000 each. Tesla also ended referral program benefits in all markets after April 30th, which previously provided buyers with extra incentives. Tesla laid off over 10% of its global workforce in recent job cuts, according to an internal memo. The automaker previously canceled plans for a $25,000 inexpensive car that investors were counting on for mass market growth. Tesla's vehicle deliveries declined in the first quarter, the first drop in nearly 4 years, as price cuts failed to boost demand.
Category
🗞
NewsTranscript
00:00It's Benzinga and here's what's on the block.
00:03Tesla cut the prices of its Model Y, Model X, and Model S vehicles in the U.S. by $2,000
00:08each.
00:09Tesla also ended referral program benefits in all markets after April 30th, which previously
00:14provided buyers with extra incentives.
00:16Tesla laid off over 10% of its global workforce in recent cuts, according to an internal memo.
00:21The automaker previously canceled plans for a $25,000 inexpensive car that investors were
00:27counting on for mass market growth.
00:29Tesla's vehicle deliveries declined in the first quarter, the first drop in nearly four
00:33years as price cuts failed to boost demand.
00:35For all things money, visit Benzinga.com.