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Tesla cuts prices nearly $2,000 in China, in line with US cuts
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Tesla cuts prices nearly $2,000 in China, in line with US cuts
Apr 20, 2024 9:24 PM

BEIJING, April 21 (Reuters) - Tesla has cut

prices in China by nearly $2,000 across its line-up in China, in

line with its price cuts in the United States, as it grapples

with falling sales and an intensifying price war for electric

vehicles (EVs).

Elon Musk's EV maker cut the starting price of the revamped

Model 3 by 14,000 yuan ($1,930) to 231,900 yuan ($32,000) in

China, its official website showed on Sunday.

Tesla made similar cuts to the Model Y starting price, now

249,900 yuan, the regular version of the Model S to 684,900

yuan and the Model S Plaid to 814,900 yuan. The regular Model X

now costs 724,900 yuan and its plaid variant 824,900 yuan.

The carmaker cut U.S. prices of its Model Y, Model X and

Model S vehicles by $2,000 each on Friday. On Saturday it

slashed the price of its Full Self-Driving driver assistant

software to $8,000 from $12,000 in the United States.

Tesla reported this month that its global vehicle deliveries

in the first quarter fell for the first time in nearly four

years, as price cuts failed to stir demand.

The EV maker has been slow to refresh its ageing models as

high interest rates have sapped consumer appetite for big-ticket

items, while rivals in China, the world's largest auto market,

are rolling out cheaper models.

Musk postponed a planned trip this weekend to India, where

he was to have met Prime Minister Narendra Modi, citing

obligations at Tesla.

($1 = 7.2403 Chinese yuan renminbi)

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