Tesla again lowers the cost of various electric automobiles.

Tesla has reduced the prices of its high-end vehicles in the US for the second time this year, in a bid to reverse earlier price increases that had contributed to a slump in demand in 2022. The starting price of the Model S has been reduced by 5% to $89,990, while the cost of the lowest-priced Model X has come down by 9% to $99,990. Tesla had announced significant price increases for many of its vehicles in 2021 and 2022, but had to reverse course in January 2023 as weaker demand and rising competition hit sales. The earlier price increases had contributed to disappointing new vehicle deliveries in the final months of 2022. Tesla CEO Elon Musk said that the price cuts in January had an immediate impact on stoking higher sales. However, he did not address the impact of earlier price increases on sales.

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