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Technology
Anan Ashraf

Tesla CEO Musk Uncertain About Global Economy As Interest Rates Threaten Car Affordability.

Elon Musk Interest Rates Economy Tesla Inc.
EV giant Tesla Inc warned it may further cut prices on its vehicles. SCOTT OLSON/GETTY IMAGES 

EV giant Tesla Inc (NASDAQ:TSLA) on Wednesday warned it may further cut prices on its vehicles.

CEO Elon Musk noted that the affordability of anything bought with debt decreases as interest rates rise. Up until recently, it was the sharpest interest rate rise in history and Tesla had to reduce the price of their cars because the interest payments increase the price of the car, Musk said.

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