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Tesla Inc (NASDAQ: TSLA) Chief Elon Musk, on Friday, in a tweet, said that the company could lower the prices of its electric vehicles if inflation “calms down.”
Musk, who has more than 100 million followers on Twitter, was replying to a tweet that asked if Tesla had any plans to lower prices that it had raised to beat the pandemic and supply chain woes.
“If inflation calms down, we can lower prices for cars,” Musk said in a tweet.
On Wednesday, the Bureau of Labor Statistics reported a higher-than-expected inflation rate, with the consumer price index (CPI) rising 9.1% from a year ago, the largest gain since the end of 1981.
Tesa increased the prices of all of its car models in the US and China in March and again hiked prices across its models as recently as June, with some models going up by as much as $6,000.
Musk tweeted in March that Tesla and SpaceX were both “seeing significant recent inflation pressure in raw materials & logistics.”
Picture Credit: Quartz
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