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Tesla stock falls after cutting prices in China and paying customers for missed tax credit due to production delays

Tesla stock falls after cutting prices in China and paying customers for missed tax credit due to production delays

5 years ago
Anonymous $L9wC17otzH

https://www.cnbc.com/2018/12/24/tesla-cut-prices-in-china-and-will-pay-for-missed-tax-credit.html

Tesla fell as much as 6.7 percent Monday after the company cut prices in China and said it would pay customers who missed a tax credit deadline due to the company's production delays. The Nasdaq Composite Index was down about 1 percent on Monday morning.

CEO Elon Musk tweeted Saturday that it would make sure customers weren't faulted for the tax credit they missed out on due to Tesla's production delays. The Republican-controlled U.S. Congress agreed to phase out tax credits for people who buy electric vehicles. Under the new policy, the tax credit would be reduced by 50 percent every six months until it was phased out completely.