Tesla slashes car prices by $2,000 around world after rocky week for Elon Musk

Tesla has cut prices for several models of electric cars across the world, including in the United States and China.
Comparison of prices on its international websites throughout the weekend have shown an estimated five percent drop in the starting price.
Elon Musk’s company also knocked roughly a third off the price of its “Full Self Driving” system — which can’t drive itself so drivers must remain alert and be ready to intervene — to $8,000 from $12,000.
In the United States, Tesla’s Model X, Model Y and Model S, the company’s most affordable model, experienced a $2,000 cut in their starting prices since Friday.
The price for the Cybertruck and Model 3 remained unchanged.
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In China, Tesla’s biggest market outside of the US, the cost for all its models was slashed by 14,000 yuan – a little over five percent.
Prices appeared to have been dropped in Germany as well, with a spokesperson for the company that price lists had been updated in several other European countries, Africa and the Middle East.
The decision comes amid a rocky week for the company and founder Elon Musk.
On Friday, Tesla was forced to recall thousands of Cybertruck over safety issues linked to its accelerator pedal.
Mere days earlier, founder Elon Musk announced 10 percent of Tesla’s staff would be cut, leaving thousands at home.
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Musk said the “difficult” decision had to be taken to ensure the company was ready to face the “next phase”.
He said: “Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth, there has been duplication of roles and job functions in certain areas.
“As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity.
“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10 percent globally.”
The price reduction came the day after Tesla’s stock dropped below $150 per share, wiping out all gains made over the past year.
The Austin, Texas, company’s stock price has dropped about 40 percent so far this year amid falling sales and increased competition. Discounted sticker prices are a way to try to entice more car buyers.