Tesla cuts prices $2,000 as Q4 deliveries miss analysts’ estimates

By Associated Press

By Tom Krisher, The Associated Press

Shares of electric car and solar panel maker Tesla Inc. tumbled Wednesday morning after the company cut vehicle prices by $2,000 and announced fourth-quarter sales figures that fell short of Wall Street estimates.

The company said in a statement before the markets opened that it delivered over 245,000 electric cars and SUVs last year, nearly as many as all previous years combined.

But it also said it would cut prices of its three models by $2,000 to help customers handle the gradual phase-out of federal electric vehicle tax credits. On Jan. 1 the federal credit for Tesla [READ MORE HERE]

Source: OC Register

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