Tesla Lowers Prices for Model S and Model X in China
August 16 2023 - 04:00AM
Dow Jones News
By Sherry Qin
Tesla has cut the prices for Model S and Model X cars in its
inventory in China, two days after it slashed prices of its Model Y
series.
The electric-vehicle maker Wednesday said it lowered the price
of the Model S to 754,900 yuan ($103,658) from CNY808,900,
according to a post from its official Weibo account. It also cut
the price of its Model X to CNY836,900 from CNY898,900.
This comes after the EV seller slashed the prices of both its
Model Y Long-range and Model Y Performance cars in China by
CNY14,000 on Monday.
The EV maker released cheaper versions of its Model S and Model
X cars, what it called standard-range vehicles on its website, in
the U.S. Tuesday.
Tesla's Chinese competitors, Leapmotor and SAIC-Volkwagen, both
lowered their prices in August. The market expects that BYD, a
major Chinese EV maker, will soon follow its peers and also lower
its prices.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
August 16, 2023 03:45 ET (07:45 GMT)
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