BEIJING (Reuters) – Tesla has slashed prices in China again, this time for two versions of the Model Y, the Long Range and Performance, the company said in a notice on Monday.
The starting price of the Model Y Long Range drops by 4.5% to 299,900 yuan and that of the Model Y Performance by 3.8% to 349,900 yuan.
Tesla also said it would offer 8,000 yuan insurance subsidies for Chinese buyers of certain Model 3 versions between Aug. 14 and Sept. 30.
The Tesla title lost 2% in pre-market trading in the United States.
Last month, Tesla CEO Elon Musk said price cuts could continue, even if they were to squeeze the automaker’s margins.
Sales of Chinese-made Teslas fell 31% in July from June, according to data from the China Passenger Car Association (CPCA), marking the first monthly decline since December.
(Shanghai office and Liz Lee, with contribution from Samrhitha Arunasalam in Bangalore; French version Kate Entringer, editing by Tangi Salaün)
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