SHANGHAI, Apr 26 (SMM) – In the wake of Musk’s rapid price cuts, the cheap model of the Tesla Model Y SUV is now priced below the average price of new cars in the United States. The basic Model Y costs $46,990 for now, $759 less than the average car or truck price in the US. Since the middle of last year, the price difference between the two has changed by more than $20,000.
Morgan Stanley analyst Adam Jonas said last week that Musk's US price cuts were so aggressive that it could lead some automakers to slow down investment in electric vehicles, rather than starting a price war with Tesla in an uncertain economic environment.
"We're wondering if this is a 'moment' when the boards of established OEMs can reconsider slowing EV capex and R&D plans."
