Tesla Motors Inc (NASDAQ:TSLA) decided to reduce the price of its Model S vehicle in European countries including Germany and the Netherlands. As many expected, the electric car manufacturer followed in the footsteps of its peers in the industry that have been constantly dropping prices of their vehicles.
In Germany, the MSRP of the Model S vehicle was €72,000 when it was first introduced in the country late last year. Tesla Motors Inc (NASDAQ:TSLA) reduced the price of the electric car €65,300. In Netherlands, the price of the Model S vehicle was cut by approximately €4,000 to €66,200. The price of the electric was was lowered to CHF71,900 in Switzerland.
It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More