Tesla could cut car prices if inflation ‘calms down’

Tesla CEO Elon Musk said in a tweet on Friday that the electric car company could cut prices if inflation “calms down.”

Bureau of Labor Statistics report higher-than-expected inflation rate this week with the consumer price index up 9.1% from a year ago.

Tesa raised the prices of all its car models in the US and China in March. The company once again raised prices on its models most recently june when it increased the cost of the long-range Model Y from $62,990 to $65,990.

Musk tweeted in March that Tesla and his other company, SpaceX, both “see recent significant inflationary pressures in materials and logistics.”

Musk said in June before the second price hike that he had a “super bad feeling“about the economy and will need to cut 10% of jobs at Tesla, according to an email originally reported by Reuters.

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