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Why Does Tesla Keep Lowering Prices?

Lower prices are great for car buyers, but they're not great for Tesla.

By Travis Hoium – May 30, 2024 at 5:15AM EST

Falling prices have been great for consumers, but Tesla's (TSLA +3.44%) bottom line hasn't been helped by price cuts. Recent news indicates the price cuts will continue and that doesn't bode well for the company's recovery. Travis Hoium covers the competitive dynamic and trends to watch in this video.

*Stock prices used were end-of-day prices of May 29, 2024. The video was published on May 29, 2024.

Read Next

About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
TMFFlushDraw
X@travishoium

Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

General Motors Stock Quote
General Motors
NYSE: GM
$78.60
(+1.72%)+$1.33
Tesla Stock Quote
Tesla
NASDAQ: TSLA
$405.67
(+3.37%)+$13.24
Rivian Automotive Stock Quote
Rivian Automotive
NASDAQ: RIVN
$14.91
(-1.29%)-$0.20

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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