Tesla shares fall after Elon Musk’s firm cuts price of cars in China


Tesla CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, east China, Jan. 7, 2020.

Ding Ting | Xinhua News Agency | Getty Images

Tesla shares slipped as much as 7% Monday morning after the company cut the price of some of its cars in China. They were down more than 1% at market close.

Tesla slashed the price of its Model 3 and Model Y vehicles in China, one of the company’s most critical markets.

The starting price for the Model 3 sedan was reduced to 265,900 Chinese yuan ($36,615) from 279,900 yuan. The Model Y sports utility vehicle now costs 288,900 yuan versus the previous price of 316,900 yuan.

Tesla’s cuts partly reverse some of the price…


0 0 votes
Article Rating

Inflation is dominant topic on earnings calls. What execs are saying

Previous article

French project aims to supply Europe with lithium

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Autos