Tesla is cutting the price tag on some of its electric vehicles in the U.S.

Tesla Cutting Prices By 20% on Some EVs

and if you are in the market to buy a new car and even perhaps make the switch to electric a Tesla cutting the price tag for some of its electric vehicles sold here in the US. According to updated listings on the company's website. Tesla stock on the move today. Um, it is lower. So basically investors betting this is not enough. Maybe we'll see more price cuts down the road. Albo buyers can expect a 20% haircut in some cases as the economy slows, loan rates rise and demand wanes. It also means some buyers may now be able to qualify for that coveted $7500 federal tax credit if they buy electric industry Insider dan Ives who follows Tesla closely. He comes on the show all the time to talk Tesla calling the price cuts the right medicine at the right time and Tesla recently reporting some disappointing delivery numbers of its cars both here and in china it's year and as it does face a much more competitive evey market now than it's seen even in just the past few years. So, I did reach out to Tesla for comment, haven't heard back yet. But of course, we'll give you any updates to the story as they come in