Tesla cut the prices of its cars in China for the second time in less than three months, reinforcing expectations of a broader price war amid weak demand in the world’s largest auto market.
read more: Tesla lowers the prices of its cars once more in China, as competition intensifies
This step is the first of its kind by Tesla: since the appointment of its chief executive officer for China and Asia, Tom Zhu, to oversee production and global delivery, which represented one of the most important challenges for the company in 2022.
The latest reduction in the prices of Tesla cars in China, in addition to another last October, translated into a decline in prices between 13% and 24% in the United States from September levels, according to Archyde.com estimates, which is the second largest market for Tesla.
