Tesla cuts prices in China, Germany, and around globe after US cuts

Tesla cuts prices in China, Germany, and around globe after US cuts

The Straits Times - Business·2024-04-22 06:00

BEIJING/FRANKFURT - Tesla has cut prices in a number of its major markets - including in China and Germany - after price cuts in the United States - as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against cheaper Chinese EVs.

The swathe of price cuts comes after Elon Musk’s EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years.

Tesla cut the starting price of the revamped Model 3 in China by 14,000 yuan (S$2,684) to 231,900 yuan, its official website showed on April 21.

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