Tesla, the electric vehicle maker led by billionaire Elon Musk, made some significant changes over the weekend in an attempt to boost sales. The company announced a price cut of roughly a third for its "Full Self Driving" system, dropping the price from $12,000 to $8,000. Despite the name, the system still requires drivers to remain alert and ready to intervene, as it cannot fully drive itself. This move comes after Musk's promise in 2019 of a fleet of robotaxis hitting the roads in 2020, a promise that has yet to materialize.

In addition to the price cut for the Full Self Driving system, Tesla also slashed $2,000 off the prices of three of its models in the United States. The Model Y, a small SUV and Tesla's most popular model, saw a price reduction, as did the older and more expensive Models X and S. The prices for the Model 3 sedan and the Cybertruck remained the same. These discounts are seen as a way to entice more car buyers, as Tesla's stock price dropped below $150 per share, erasing all gains made over the past year.

The price reductions come at a challenging time for Tesla, as the company's stock price has dropped about 40% so far this year due to falling sales and increased competition in the electric vehicle market. Despite these challenges, Tesla continues to be a major player in the industry, with the Model Y being the top-selling electric vehicle in the U.S. The company's moves over the weekend reflect a strategy to stay competitive and attract more customers in a rapidly changing market.