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. 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 latest price cut on Tesla vehicles appeared on the company’s website late Thursday. In recent months, rising borrowing rates made its electric cars more expensive for people taking out loans.

Source: New York Times January 13, 2023 17:44 UTC