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Elon Musk talks about a possible price drop for his vehicles

In light of the inflation currently affecting the global economy, Tesla car prices have risen significantly. Elon Musk even finds this “embarrassing” and for the first time mentions possible price cuts in the near future.

High inflation currently affecting the global economy does not make Tesla happy. American billionaire Elon Musk’s brand is suffering a lot and almost the brand’s entire car range shows a dramatic price increase. To give a simple example: Tesla’s Model 3 has increased by about $10,000 in a few months due to inflation, or almost 40% compared to the original price. More broadly, the prices of all Tesla vehicles by about 30 to 40% compared to their original price.

Elon Musk then said we had to wait for inflation to calm down to see a first price drop. During a recent conference call that took place in the context of the announcement of Tesla’s economic results, Elon Musk first called a date for a possible price drop. While pointing out that the current price hike was “honestly at embarrassing levels”

Elon Musk finds the price of his cars ’embarrassing’

According to an article published by InsideEVs, Elon Musk also admitted that the new prices of You are here were on “embarrassing levels”. “We have increased our prices several times. They are frankly on embarrassing levels. But we also had a lot of supply chain problems and we have crazy inflation,” explains the CEO.

The Tesla boss also added: that it looked like inflation was already going down. “I think inflation will come down towards the end of the year. I’m hopeful and it’s not a promise, but I hope at some point we can lower prices a little bit,” added Elon Musk. If inflation does indeed start to fall, You are here will be able to avoid further price increases and may eventually start lowering the prices of vehicles in its range.

Brain Curry

Brian is the news author at Research Snipers which mainly covers Technology News, Microsoft News, Google News, Facebook, Apple, Huawei, Xiaomi, and other tech news.