Tesla Inc. shares fell after the carmaker cut prices in the US for the second time this month, further demonstrating Elon Musk’s willingness to sacrifice profitability for demand.
The Austin, Texas-based company marked down each version of its Model Y sport utility vehicle by $3,000. It also cut the cost of the base Model 3 by 4.7% to less than $40,000 for the first time in years.
Tesla’s stock fell as much as 2.8% to $179.08 before the start of regular trading Wednesday. The shares are up 50% this year.
