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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Tesla Inc | NASDAQ:TSLA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.18 | -1.19% | 181.10 | 181.02 | 181.09 | 185.86 | 179.0163 | 182.00 | 92,794,827 | 00:48:33 |
By Yifan Wang
Tesla Inc. cut prices on its Model 3 and Model Y vehicles in China by more than 10%, months after the auto maker's previous price reduction, as competition heats up in the world's biggest electric-vehicle market.
Tesla reduced the starting price for the rear-wheel-drive Model 3 to 229,900 yuan ($33,407) from CNY265,900, while the Model Y starting price wil be CNY259,900, down from CNY288,900, according to the company's website and a social media statement on Friday.
The cut come after Tesla in October lowered prices in China in a bid to fend off rising competition from fast-expanding local EV brands, as well as traditional auto makers' increasing push into the Chinese market.
Tesla earlier this week said its 2022 deliveries grew about 40% on year, missing its own target of a 50% rise or more. In China, the company's December sales volume dropped to a multimonth low, according to data from the China Passenger Car Association.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
January 05, 2023 23:30 ET (04:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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