Tesla Cuts Prices Nearly $2,000 in China, in Line with US Cuts

Tesla has cut prices by nearly $2,000 across its models in China, after price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles , especially against cheaper Chinese EVs. Elon Musk's EV maker cut the starting price of the revamped Model 3 in China by 14,000 yuan to 231,900 yuan , its official website showed on Sunday.

The carmaker on Friday cut U.S. prices of its Model Y, Model X and Model S vehicles by $2,000. On Saturday it slashed the price of its Full Self-Driving driver assistant software to $8,000 from $12,000 in the United States. The EV maker has been slow to refresh its aging 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.

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