Tesla had to drop prices. Otherwise they'd be left with unsold inventory and would have to curtail production, destroying their growth story . Better to at least still be growing in numbers.

Trouble is, they've got themselves a price war, not a place you want to be if you're maintaining margins. If you get a worthy competitor or two.

I wonder what a recession did for overall vehicle sales. Be interesting to compare with what happened in '08.

My guess? Modest YoY growth at their upcoming sales call but not up to their prior standard. Elon will talk the good talk about market share to satisfy the fans, and their stock price will sputter along at around its current level. Major moves may wait until the sales call the following quarter, when we see the results of what's happening now.