Tesla Cuts Prices in China After Signs of Softening Demand

(Bloomberg) — Tesla Inc. lowered prices across its lineup in China aiming to stoke demand in a market where competitive and economic pressures are intensifying.

The carmaker cut the cost of the cheapest locally built Model 3 sedan by 5% to 265,900 yuan ($36,774), Tesla’s website showed Monday. The company dropped the starting price of the Model Y SUV by 8.8% to 288,900 yuan.