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Elon Musk says Tesla may lower automotive prices if inflation eases

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Tesla Chief Executive Officer Elon Musk said Friday the electrical automaker could lower prices for cars if inflation calms down.

Musk, who has over 100 million followers on Twitter, was replying to a tweet on Friday that asked if the corporate had any plans to lower prices that it had raised to beat the pandemic and provide chain woes.

“If inflation calms down, we will lower prices for cars,” Musk said in a tweet.

Tesla has raised automotive prices a lot of times prior to now few months by just a few thousand dollars as costs of raw materials for aluminum to lithium utilized in cars and batteries surge, while automakers struggle to source chips and other supplies because of an industry-wide shortage.

Elon Musk’s Tesla has raised automotive prices a lot of times prior to now few months by just a few thousand dollars.REUTERS

Musk, the world’s richest person, in recent weeks warned concerning the risk of a recession and said he had a “super bad feeling” concerning the economy.

US consumer prices jumped 9.1% to an almost 41-year high in June, as gasoline and food costs remained elevated. The surge spells tough times for firms which are now trying to cut costs and alter their hiring plans.

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