Elon Musk tweets that Tesla could lower car prices if inflation slows

Tesla Inc Main Govt Officer Elon Musk reported on Friday the electrical automaker could reduced rates for automobiles if inflation calms down.

Musk, who has about 100 million followers on Twitter, was replying to a tweet on Friday that questioned if the corporation experienced any ideas to lower selling prices that it experienced lifted to conquer the pandemic and source chain woes.

If inflation calms down, we can lower selling prices for autos

— Elon Musk (@elonmusk)
July 15, 2022

“If inflation calms down, we can lower selling prices for cars and trucks,” Musk mentioned in a tweet.

Tesla has raised vehicle rates a quantity of occasions in the past handful of months by a several thousand dollars as fees of uncooked components for aluminum to lithium utilised in automobiles and batteries surge, when automakers battle to resource chips and other supplies thanks to an sector-extensive shortage.

Musk, the world’s richest human being, in new months warned about the chance of a recession and explained he experienced a “super bad emotion” about the financial state.

U.S. shopper costs jumped 9.1% to a nearly 41-12 months superior in June, as gasoline and meals fees remained elevated. The surge spells difficult times for companies that are now searching to reduce prices and change their employing strategies.