Tesla Cuts Prices to Boost Demand After Missing Delivery Targets

Tesla shares fell after lowering Model 3 and Model Y prices in the U.S. to boost demand.

The latest price cuts come after Tesla reported lower Q3 deliveries than expected due to factory downtime.

Tesla has cut prices to stimulate demand and defend market share.

Tesla delivered 435,059 EVs in Q3, down from 466,140 last quarter.

Tesla shares were down 2.4% in early trading Friday after the price cuts.