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Fortune
Fortune
Christiaan Hetzner

End of the EV premium? Deflation hits car industry as Ford ups stakes in price war with Tesla

(Credit: Courtesy of Ford Motor Co.)

Soaring prices for expensive new electric vehicles could finally be cooling off after months of pressure, and prospective buyers can thank Elon Musk for that. 

The chief executive of Tesla lowered the entry point for his most popular vehicles at the start of the year in order to reduce rising inventories and reverse two straight quarters of sales volumes that fell short of Wall Street’s expectations. 

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