News Snapshot:
Tesla (NASDAQ:TSLA) is likely not done trimming prices for its autos in 2023, leading to further margin contraction, according to multiple analyses published on Monday. On Friday, the automaker cut prices on all US models, with Model 3 and Model Y sticker prices sliding by at least $1,000 while Model S and Model X prices fell by $5,000 or more. Bernstein analyst Toni Sacconaghi indicated that the price cuts were not surprising given elevated inventory levels, “but the timing and details (early in the quarter; in the US price; including the Model Y)” caught him off guard. “We believe additional...
