The company reported that its profit margins have been squeezed as it faces tough competition.
Tesla chief executive Elon Musk says the electric carmaker could continue to cut prices as the world economy is in "turbulent times".
In recent months, Tesla has cut its prices several times in major markets, including the US and China.Tesla reported that its profit margin had fallen to the lowest level in four years. During a call with Wall Street analysts, Mr Musk signalled that he was open to cutting prices further if needed. "This feels like a price war with no long term strategy to raise margins if Tesla wins the war," he added.Earlier this year, Mr Musk said he believed pursuing higher sales, with lower profits, was the "right choice" for Tesla.
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