Shares of electric vehicle makers closed the week ending Sept.1 mostly higher, drawing inspiration from the broader market, which rallied on the back of some soft economic data. EV market leader Tesla, Inc. (NASDAQ: TSLA) experienced some volatility this week as fears of further price cuts weighed down on the stock.
The week saw Tesla discounting prices of inventory Model 3 vehicles in the U.S. and Canada as well as lowering configurator prices of Model S and Model X vehicles in the U.S. “The Model S and Model X price cuts were steep, ranging from 15% to 18.8%,” said Benzinga. “This triggered negative reactions from the Tesla community, investors, as well as analysts.”
