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Tesla Slashes Prices in U.S. and China Amid Sales Decline and EV Price War

Apr 21, 2024, 12:07 PM

Tesla has implemented significant price reductions across several models both in the U.S. and China. In the U.S., the company reduced the prices of the Model Y, Model S, and Model X by $2,000, with the Model Y now starting at $42,990 before incentives. Concurrently, in China, Tesla lowered the prices of the Model 3, Model Y, Model S, and Model X. The price cuts in China ranged from 4-6% for the Model 3 and Model Y to as much as 22% for the imported Model S and Model X. These adjustments come as Tesla faces declining sales and an intensifying price competition in the electric vehicle market.