Tesla Slashes Model S, X Prices in China After Model 3 Refresh

Tesla Inc. slashed the prices of its premium Model S and X cars in China just hours after unveiling a refreshed version of its Model 3 mass-market sedan.

(Bloomberg) — Tesla Inc. slashed the prices of its premium Model S and X cars in China just hours after unveiling a refreshed version of its Model 3 mass-market sedan.

The US automaker marked down the price of its basic Model S sedan in Asia’s largest economy by 14% to 698,900 yuan ($96,200) and its entry-level Model X sport utility vehicle by about 18% to 738,000 yuan, according to its official website.

The more high-spec version, the Model X Plaid and Model S Plaid, enjoyed price cuts of 20.8% and 19.4%, respectively.

The adjustments followed Tesla’s launch earlier Friday of a revamped Model 3, an electric car that’s hoped will defend its position in China amid intensifying competition.

While Tesla trimmed the prices of some premium models in stock last month, its China website still shows orders placed now will be delivered in the fourth quarter.

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