The Presidential Daily Brief

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    Tesla Drops Model 3 Prices, Shifts to Online Sales

    They’re driving a hard bargain. Several years after floating the idea of a $35,000 sedan, the electric carmaker announced yesterday it’s finally making good on that pledge. But to do so, Tesla’s shuttering some of its 378 stores and laying off workers to pursue online-only sales, which it says could cut vehicle costs by 6 percent. Meanwhile, Elon Musk has warned the company probably won’t turn a profit this quarter, but a second-quarter boost is “likely.”

    Will this strategy work? Some experts aren’t so sure, saying the Model 3’s new rock-bottom price might turn off consumers expecting top-of-the-line features.

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