Tesla Cuts China Prices as World’s Biggest EV Market Slows

(Bloomberg) — Tesla Inc. cut the price of both its locally made models in China, potentially setting the stage for further discounting as overall growth in the world’s biggest electric car market slows. 

The starting price of the basic Model 3 sedan was cut 5.9% to 245,900 yuan ($34,300), according to the automaker’s official website. The Model Y sport utility vehicle starting price was lowered to 258,900 yuan from 266,400 yuan, marking a 2.8% cut.