Musk Responds to Tweet Question: "Tesla Prices Could Drop If Inflation Eases"

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Joselgina] Elon Musk, CEO of electric vehicle company Tesla, said on the 15th (local time) that Tesla car prices could be lowered if inflation calms down.

On the same day, Musk responded on his Twitter to a question from a Korean automotive journalist asking, "Do you plan to lower car prices after the pandemic or supply chain issues?" with "If inflation calms down, we can lower prices for cars."

Earlier, Tesla raised prices for all vehicle models in the US and China in March, and also increased the price of the Model Y Long Range in June. In the same month, Tesla revealed via Twitter that it is under significant inflationary pressure in raw materials and logistics sectors.

The US Consumer Price Index (CPI) for June rose 9.1% compared to the same month last year, marking the steepest increase since December 1981.