#price-cuts

#price-cuts

The new Model Y, costing just under $40,000 with a stripped-down interior, follows a slump in Tesla sales covering most of the past year due to anti-Elon Musk boycotts targeting the company. The company is also offering a cheaper version of its Model 3 for under $35,000. The company is under intense pressure to lift sales but is facing big challenges.

While builders continue to contend with rising construction costs, a recent drop in mortgage interest rates over the past month should help spur housing demand, Buddy Hughes, the NAHB chairman, said in a statement. As builders look to improve buyer traffic and offload inventory in September, 39% of them turned to price cuts, up from 37% in August, marking the highest percentage post-Covid. The average price cut made by these builders remained at 5%, where it has been since November of 2024.