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Tesla owners are fretting over plummeting resale value after the company cut the price of its cars as much as 20%, part of a push by Chief Executive Elon Musk to increase sales volume in the face of weakening demand.
This is an age-old problem in the car business: Consumers buy a vehicle only to see a rebate advertised days later that would have saved them a few thousand dollars. This time it’s different because dealer discounts are often limited-time sales and Tesla’s cuts are larger than the typical rebate.