Tesla Inc. has reduced prices on the Model Y, Model S, and Model X by $2,000 following lackluster first-quarter sales and an inventory surplus.

The Model Y's starting price in the US is now $42,990, with similar reductions applied to the higher-end models.

Tesla's difficult week also included layoffs, a re-vote on Musk's substantial compensation package, and a Cybertruck recall due to pedal issues.

The company's stock has fallen more than 40% this year, marking its first annual sales decline since the start of the pandemic.

Tesla is preparing to announce its first-quarter earnings on April 23 amidst these challenges.

Despite setbacks, Tesla maintains its focus on advancing self-driving technology and adjusting its pricing and software strategies.