Tesla cuts prices in China to help boost sales
All models shipped to China getting price cut in the car company’s second biggest market
Tesla is adjusting prices ‘in order to continue to improve affordability for customers,’ the Chinese unit said in a statement. Photograph: Reuters
The starting price of the imported Model 3 sedan was lowered to 355,900 yuan (€46,138) from 377,000 yuan (€48,920), according to a list provided by a Tesla representative on Tuesday.
Prices of the Model S and Model X were cut about 4 per cent to 776,900 yuan (€100,791) and 790,900 yuan (€102,607), respectively. The changes won’t affect prices of Model 3s that will be produced in Shanghai, according to the representative.
Tesla is adjusting prices “in order to continue to improve affordability for customers,” the Chinese unit said in a statement. “We are standardising our global vehicle lineup and streamlining the number of trim packages offered for Model S, Model X and Model 3.”
The shares fell 1.5 per cent to $249.75 at 7:17am in New York before regular trading.
Earlier reports said Tesla dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range in the US. The Tesla representative could neither confirm nor deny US figures immediately.