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Tesla Slashes Car And Full Self-Driving Mode Prices As Stock Continues To Fall
The EV manufacturer is seeking to rebound from repeated recent bad news
Electric vehicle giant Tesla (TSLA) has experienced difficult times in recent weeks. Falling delivery numbers and bad press have all contributed to its stock dramatically falling from earlier highs. In the midst of all this turmoil, the company just announced significant price cuts on their vehicles, along with an extreme reduction on the cost of the Full Self-Driving package.
Long a Wall Street darling with seemingly nothing they couldn’t achieve, Tesla has begun to look human of late. Bad news has piled up, with Q1 2024 delivery numbers coming in 8.5% less than the same period a year ago. They have also been strongly challenged in the major market of China by other EV makers, eliminating the kind of giant share of the electric market they enjoy at home in the United States. This past week, the manufacturer also announced layoffs of about 10% of their total workforce. Finally, they just had to recall all of the nearly 4,000 Cybertrucks that have found their way to drivers due to safety concerns over a faulty accelerator pedal.
After reaching a high of $299.29 during the past year, Tesla stock has been reduced by more than half, currently…
