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WEKU
WEKU
Business
Camila Domonoske

Tesla slashed its prices across the board. We're now starting to see the consequences

Ford Mary Barra Elon Musk GM Jessica Caldwell electric vehicle Cadillac Cox Automotive General Motors Hyundai
A Tesla car is displayed at a showroom and service center for the auto maker in Amsterdam on Oct. 23, 2019. Tesla recently cut prices across the board, a move with big potential ramifications for the automaker as well as for the industry. (John Thys/AFP via Getty Images)

Last month, Tesla dropped its prices dramatically — up to 20%.

Auto companies offering discounts to promote sales is nothing new, but this move sparked a lot of reaction. So what was so special about these price cuts? And what do they mean?

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