Tesla will lower price for cars if inflation calms down: Elon Musk

Tesla CEO Elon Musk said that his electric vehicle company Tesla would pull down the prices of its car if the inflation calmed down. On the microblogging site Twitter, the tech honcho mentioned the car prices on being asked by a user if the company plans to down the cost of cars after the pandemic or supply chain matters.

“If inflation calms down, we can lower prices for cars,” the tech billionaire wrote on Twitter.

Last month, Musk-owned Tesla once again increased the prices of its electric cars across its entire lineup, with some models going up by as much as $6,000. After a year of increasing prices almost every month in 2021, Tesla slowed down the rapid rise in prices across its electric vehicles in early 2022.

However, it later updated its online configurator overnight to increase prices across its entire lineup. As per a recent report, the Model 3 is the one that got the smallest price increase of all Tesla’s lineup. Only the Model 3 Long Range is affected as it went from $54,490 to $57,990, a $2,500 price increase, the report said.

The Model Y, which has become Tesla’s most popular model, has received a more significant price increase, with both versions of the electric SUV going up in cost. Model Y Long Range went from $62,990 to $65,990, and Model Y Performance went from $67,990 to $69,990.

Recently, Elon Musk claimed that Tesla will be reducing the overall headcount of its employees. The company chief claimed that the electric car maker will reduce the workforce by 10 percent within the period of three months. This comes days after a report cited Musk’s letter to employees claiming that 10 percent of employees will be laid off.

Tesla won’t stop at headcount reduction. During the Qatar Economic Forum organized by Bloomberg, Musk claimed that the company will also be deducting salaries by 10 percent in the next three months. This is the company’s way of dealing with the global economic slowdown.