How Tesla’s Price Cut Is Making Its Rivals Sweat

There should no longer be any doubt about


Tesla


‘s position in the global auto industry. Look at what happened after the electric vehicle leader cut prices. It sent just about every auto stock tumbling, except its own.



Tesla


(ticker: TSLA) cut price for its cars in the U.S. and Canada this past week, dropping them by as much as 20%. The cuts allow most


Tesla


models to qualify for the new $7,500 purchase tax credit passed as part of the inflation reduction act in the U.S.

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