Ford said the price cuts were possible because it had ramped up assembly lines to produce more trucks, and because the price of battery raw materials had fallen. But analysts said the cuts reflected a glut of electric vehicles. Ford could also be trying to seize market share before the Cybertruck and the electric Silverado became available in significant numbers.

Rivian is also becoming a more formidable competitor after reportedly overcoming production problems. Its R1T pickup has outsold the electric F-150 in the first six months of the year.

R.J. Scaringe, Rivian’s chief executive, acknowledged in an interview last month that establishing a smooth production operation had “absolutely been challenging.” But he added, “We’ve sort of crossed that point of peak pain and are now in this sort of much more predictable stage of ramp.”

In Europe, Tesla is closing in on established carmakers like Fiat as it increases production at a factory near Berlin and plans a major expansion of that plant. But Tesla also faces increased competition in Europe from Chinese automakers like BYD and SAIC, which sells electric cars using the MG brand. In China, Tesla has had to slash prices to withstand competition from domestic automakers that have fresher models.

And all carmakers are coping with rising interest rates, which increases monthly loan payments for car buyers. Some banks are no longer willing to lend to borrowers with weaker credit histories.

Tesla also sells solar panels, batteries for home and grid power storage. The company’s fans often cite those businesses as underappreciated sources of future growth.