Tesla could lower car prices if inflation slows, Tesla Inc CEO Elon Musk says

Musk, who has north of 100 million devotees on Twitter, was answering a tweet on Friday that inquired as to whether the organization had any designs to bring down costs that it had raised to beat the pandemic and inventory network hardships

Tesla Inc Chief Executive Officer Elon Musk said on Friday the electric automaker could bring down costs for vehicles assuming expansion quiets down.

Musk, who has north of 100 million devotees on Twitter, was answering a tweet on Friday that inquired as to whether the organization had any designs to bring down costs that it had raised to beat the pandemic and inventory network hardships.

"If expansion quiets down, we can bring down costs for vehicles," Musk said in a tweet.

See Tweet Here:

"Assuming expansion quiets down, we can bring down costs for vehicles"

— Elon Musk (@elonmusk) July 15, 2022

Tesla has raised vehicle costs various times in a couple of months by two or three thousand bucks as expenses of unrefined components for aluminum to lithium utilized in vehicles and batteries flood, while automakers battle to source chips and different supplies because of a vast deficiency.

Musk, the world's most extravagant individual, lately cautioned about the gamble of a downturn and said he had a "terrible inclination" about the economy.

— U.S. buyer costs bounced 9.1% to an almost 41-year high in June, as gas and food costs stayed raised. The flood spells difficult stretches for organizations that are currently hoping to reduce expenses and change their employment plans.