During that event, the billionaire highlighted numerous cost reduction strategies Tesla had developed in its vehicle production process—making it cheaper for the company to manufacture its cars. Musk also indicated that earlier January price cuts had bolstered customer desire for vehicles. “We found that even small changes in the price have a big effect on demand, very big,”Presumably, this most recent round of reductions is intended to increase demand, once again.
Though, even with thousands of dollars taken off Tesla price tags, the vehicles remain prohibitively expensive for most. The cheapest Tesla model, the Model 3, starts at $42,990. Compare that with the Chevy Bolt, Nissan Leaf, and Mini Cooper SE that . And, with the rise of these truly affordable options, Tesla is facing increased market competition—with its longtime dominance under threat.
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