Tesla Inc. (TSLA.O) cut prices for all vehicles shipped to China to help boost sales in its second-largest market.
The starting price of the imported Model 3 sedan was lowered to 355,900 yuan (US$51,764) from 377,000 yuan, according to a list provided by a Tesla representative on Tuesday. Prices of the Model S and Model X were cut about four per cent to 776,900 yuan and 790,900 yuan, respectively. The changes won’t affect prices of Model 3s that will be produced in Shanghai, according to the representative.
Tesla is adjusting prices “in order to continue to improve affordability for customers,” the Chinese unit said in a statement. “We are standardizing our global vehicle lineup and streamlining the number of trim packages offered for Model S, Model X and Model 3.”
Reuters earlier reported Tesla lowered the starting price of the Model 3 in the U.S. to US$30,315 from US$32,225, while raising prices for the Model S and Model X to US$70,115 and US$75,315, respectively, from US$65,125 and US$71,325. The Tesla representative could neither confirm nor deny those figures immediately.