© Photo Illustration by Emil Lendof/The Wall Street JournalTesla Inc.’s recent string of price cuts represent a crucial chapter in the company’s near 20-year story. Then last week, Mr. Musk articulated his strategy behind the moves. Many car companies have talked about the upside of software sales, which for the industry mostly remain elusive. And investors worry Tesla’s price cuts will trigger a broader price war that will hurt everyone. With the price cuts, first-quarter deliveries rose 36% while profit fell almost 25%.

Source: Wall Street Journal April 29, 2023 14:33 UTC