Tesla price cut 'puts pressure on owners,' expert says | LiveNOW from FOX
Tesla's massive price cuts are shaking up the auto industry and impacting decisions for current owners and prospective buyers.
"These price cuts, as well as inventory on the ground, will win Tesla market share and help consumers overlook the brand's aging lineup," said Jessica Caldwell, Edmunds' executive director of insights.
The Tesla website shows the Model Y with the largest drop in sticker price, from $65,990 to $52,990, a 20% decrease. The lowest-priced Model 3 dropped to $43,990 from $46,990, a 6.4% drop
For people currently in, or considering entering, the Tesla market -- price cuts of 20% or more don't come around often, so acting now is in your best interest before any corrections in the opposite direction. For current Tesla owners, the best course of action is to keep the keys and wait for the market to shift. Eventually the value of your Tesla will normalize the longer it's in your possession.
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