The electric-vehicle maker’s decision to reduce prices has reverberated through the industry.
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Tesla Inc.’s recent price cuts on its most popular models in the U.S. are reverberating through the car business, pressuring rivals and affecting purchase decisions for new- and used-car buyers.
The Elon Musk-led car maker’s most recent cut—slashing as much as 20% from the price of some versions of its top-selling Model Y earlier this month—shocked Stanly Tran. The 32-year-old California psychotherapist had been on the waiting list for a Ford Mustang Mach-E electric SUV, but quickly ditched his reservation and purchased a Model Y after a friend alerted him to the price drop.
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