Tesla Cuts Model S and X Prices By Over 6% in China

Reuters2023-08-16

Tesla has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday.

A post from the carmaker on social media platform Weibo showed the price of the Model S cut 6.7% to 754,900 yuan ($103,477.58) from 808,900 yuan earlier.

The Model X now starts from 836,900 yuan, down 6.9% from 898,900 yuan earlier.

Tesla on Monday said it cut prices in China for its Model Y's long-range and performance versions starting on Aug. 14, which triggered concerns around its profit margins.

The moves come after sales of Tesla's China-made vehicles fell 31% in July from June, their first month-on-month decline since December, as the automaker idled some production to prepare for a revamped Model 3 launch.

In contrast, China's BYD increased sales from June.

($1 = 7.2953 Chinese yuan renminbi)

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Henghooktye
2023-08-16
Henghooktye
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13:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/TSLA\">Tesla </a> has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday.</p><p style=\"text-align: start;\">A post from the carmaker on social media platform Weibo showed the price of the Model S cut 6.7% to 754,900 yuan ($103,477.58) from 808,900 yuan earlier.</p><p style=\"text-align: start;\">The Model X now starts from 836,900 yuan, down 6.9% from 898,900 yuan earlier.</p><p style=\"text-align: start;\">Tesla on Monday said it cut prices in China for its Model Y&#39;s long-range and performance versions starting on Aug. 14, which triggered concerns around its profit margins.</p><p>The moves come after sales of Tesla&#39;s China-made vehicles fell 31% in July from June, their first month-on-month decline since December, as the automaker idled some production to prepare for a revamped 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style=\"text-align: start;\">In contrast, China&#39;s BYD increased sales from June.</p><p style=\"text-align: start;\">($1 = 7.2953 Chinese yuan renminbi)</p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Cuts Model S and X Prices By Over 6% in China</title>\n<style 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13:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/TSLA\">Tesla </a> has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday.</p><p style=\"text-align: start;\">A post from the carmaker on social media platform Weibo showed the price of the Model S cut 6.7% to 754,900 yuan ($103,477.58) from 808,900 yuan earlier.</p><p style=\"text-align: start;\">The Model X now starts from 836,900 yuan, down 6.9% from 898,900 yuan earlier.</p><p style=\"text-align: start;\">Tesla on Monday said it cut prices in China for its Model Y&#39;s long-range and performance versions starting on Aug. 14, which triggered concerns around its profit margins.</p><p>The moves come after sales of Tesla&#39;s China-made vehicles fell 31% in July from June, their first month-on-month decline since December, as the automaker idled some production to prepare for a revamped Model 3 launch.</p><p style=\"text-align: start;\">In contrast, China&#39;s BYD increased sales from June.</p><p style=\"text-align: start;\">($1 = 7.2953 Chinese yuan renminbi)</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2359745968","content_text":"Tesla  has cut prices for its existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, it said on Wednesday.A post from the carmaker on social media platform Weibo showed the price of the Model S cut 6.7% to 754,900 yuan ($103,477.58) from 808,900 yuan earlier.The Model X now starts from 836,900 yuan, down 6.9% from 898,900 yuan earlier.Tesla on Monday said it cut prices in China for its Model Y's long-range and performance 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