Beggar Thy Competitor: With Tesla Sneezing Right Now, Lucid Group Is About To Catch a Brutal Cold

wccftech.com:

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.

Tesla, as the apex predator of the EV world, continues to sacrifice its industry-leading profit margin to maintain demand. However, this strategy of aggressive price cuts now poses an outsized risk to the EV giant’s nascent competitors, including Lucid Group.

BREAKING: @Tesla has reduced the starting prices of the Model S & Model X in the US.

• Model S AWD: $89,990 (from $94,990)• Model S Plaid: $109,990 (from $114,990)• Model X AWD: $99,990 (from $109,990)• Model X Plaid: $109,990 (from $119,990)

Model S/X Plaid are now the… https://t.co/VnACjToNMG pic.twitter.com/YACFu3BCS2

— Sawyer Merritt (@SawyerMerritt) March 6, 2023

Earlier today, Tesla reduced the base price of its Model S by 5.3 percent and that of Model X by 9.1 percent in the US. Moreover, following material price cuts, the Plaid versions of both models are now priced at $109,990. Previously, the Model S Plaid carried a retail price of $114,990, while the Model X Plaid retailed at $119,990 in the US.

Of course, Tesla has already discounted the price of its Model 3 and Model Y EVs by around 20 percent. These aggressive price cuts have allowed Tesla to regain the delivery momentum that it had lost toward the end of last year.

Tesla has reduced the price of unsold cars in Europe by 6%. These are not showroom cars. These are normal imports from China that have no buyers yet. You can see it here:

• UK https://t.co/wgUmSG1Mme• Germany https://t.co/7tuayDaAO5• France https://t.co/0OUTyiBkEJ pic.twitter.com/5MHUODQIW1

— Troy Teslike (@TroyTeslike) March 4, 2023

Meanwhile, Tesla has also reduced the price of its unsold EVs in Europe by