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Tesla Cuts Prices in China by 4%-22%, Model 3 Down 5.7%

Apr 22, 2024, 01:09 AM

Tesla has implemented significant price reductions across several of its models in China, with cuts ranging from 4% to as much as 22% and specific reductions like 14,000 yuan ($1,971) for the Model 3, Model Y, Model S, and Model X. The Model 3 prices were cut by up to 5.7% or approximately $2,000. This strategic move, which mirrors nearly $2,000 cuts in the United States, comes amid falling sales and a competitive price war in the electric vehicle sector, particularly against Chinese EV manufacturers. The price adjustments are part of Tesla's broader strategy to boost demand and maintain market competitiveness in key global markets.