Tesla Inc Chief Executive Officer Elon Musk said on Friday that the electric automaker could reduce car prices if inflation calms.
Musk, who has more than 101 million followers on Twitter, was responding to a tweet on Friday
In which it was asked whether the company had any plans to reduce the prices that it had taken to address the pandemic and supply chain woes.
"If inflation calms down, we can lower car prices," Musk said in a tweet.
Tesla has raised car prices by a few thousand dollars over the past few months as raw material costs for lithium from the aluminum used in cars and batteries have risen.
Musk, the world's richest man, has warned in recent weeks about the risk of a recession and said he has "very bad feelings" about the economy.
US consumer prices jumped 9.1% in June to a nearly 41-year high, as gasoline and food costs remained high.
This boom is a tough time for companies that are now looking to cut costs and revamp their recruitment plans.