Tesla’s price cuts could drive 53% volume growth this 2023: Bank of America

Tesla's recent price cuts are likely to have a big impact on the car manufacturer's future success.

According to Bank of America, these cuts could lead to a 53% increase in Tesla vehicle volume by 2023.

With prices that are up to 20% lower than they were at the start of 2021,

this cost reduction strategy is expected to attract new customers who previously had difficulty affording Tesla's products.

Furthermore, as demand rises, economies of scale will help drive even lower production costs and additional savings.

It appears that Elon Musk has made a smart move here, one that will put Tesla in an even better position for years to come.