Tesla Cuts China Prices by Up to 9 Percent as Analysts Warn of ‘Price War’

[Epoch-Times-Bot]

Tesla Cuts China Prices by Up to 9 Percent as Analysts Warn of 'Price War'

SHANGHAI—Tesla has cut starter prices for its Model 3 and Model Y cars by as much as 9 percent in China, reversing a trend of increases across the industry amid signs of softening demand in the world’s largest auto market.
The price cuts, posted in listings on the electric vehicle (EV) giant’s China website on Monday, are the first by Tesla in China in 2022, and come after Tesla began offering limited incentives to buyers who opted for its insurance last month.
Shares of the Austin, Texas-based firm were down 4.9 percent at $203.9 in early trade.
The price cuts also follows Tesla Chief Executive Elon Musk’s comment last week that “a recession of sorts” was under way in China and Europe, and Tesla said it would miss its vehicle delivery target this year....

Source: Tesla Cuts China Prices by Up to 9 Percent as Analysts Warn of 'Price War'

[xenzol]

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