The electric automaker said it would cut prices of its three models to help customers handle the gradual phase-out of federal electric vehicle tax credits.
Shares of electric car and solar panel maker Tesla Inc. tumbled Wednesday morning after the company cut vehicle prices by $2,000 and announced fourth-quarter sales figures that fell short of Wall Street estimates.
The company said in a statement before the markets opened that it delivered over 245,000 electric cars and SUVs last year, nearly as many as all previous years combined.
But it also said it would cut prices of its three models by $2,000 to help customers handle the gradual phase-out of federal electric vehicle tax credits.
