Tesla pricing reductions are exerting pressure on more than just EVs.

Tesla’s price reductions also placed pressure on commonly purchased gasoline-powered cars like the Ford Explorer and Toyota Highlander, which currently cost roughly $46,000. The benefits for customers are few, even though the business is concerned about price. While the value of their used automobiles is declining and is probably going to continue to do so, interest rates on car loans have climbed by 300 basis points, or three percentage points.