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- Ford announced price cuts for its electric vehicles shortly after Tesla did the same.
- The moves don't make sense, but Tesla's larger scale gives it a near-term advantage, BofA said.
- Overall, strategists said price cuts in the EV market could result in higher sales volumes.
Tesla kicked off 2023 by slashing the price of its vehicles by as much as 20%, and this week Ford did the same for its electric Mustang Mach-E model range.