Elon Musk is prioritizing sales over profits in hopes that Tesla’s elusive full self-driving software would eventually burnish margins, a plan that could deepen an already fierce price war in the electric-vehicle industry.
Shares of the automaker fell 3 per cent before the bell on Thursday after Musk signaled there might not be any let-up in price cuts that have already sent gross margins to a four-year low.
Getting more cars on the road would help Tesla maintain its dominant US market share in “turbulent times” and give it access to precious usage data needed to train the artificial intelligence models behind its self-driving technology.
