The automaker reduced the price of the top-end Long-Range and Performance versions of the Model Y sport utility vehicle by 14,000 yuan (R36,932) to 299,900 yuan (R791,145) and 349,900 yuan (R923,047) respectively,.
Tesla Inc. rolled out a new round of price cuts in China, sending auto stocks tumbling on concerns the move will respark a bruising price war that had showed signs of abating.
The automaker reduced the price of the top-end Long-Range and Performance versions of the Model Y sport utility vehicle by 14,000 yuan to 299,900 yuan and 349,900 yuan respectively, according to a post on itsAn 8,000 yuan insurance subsidy on newly purchased Model 3 rear-wheel drive vehicles was also extended until the end of next month.
The cuts follow the likes of Geely Automobile Holdings Ltd.’s Zeekr brand, which lowered prices as much as 37,000 yuan last week.Tesla triggered the price war with an initial round of cuts last year before further discounts in January that left Tesla’s locally made cars as much as 14% cheaper than last year, and in some cases almost 50% less expensive than in the US and Europe.as of 11:40 a.m. in Hong Kong trading. Li Auto Inc.
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