Tesla cuts prices for the second time in China
Car delivery in December was disappointing
Tesla faces pressure from investors
Tesla has been forced to cut car prices in China for the second time in three months in a bid to boost sales following a disappointing delivery in December.
The starting price for the Model Y SUV was lowered to $37,875 (RM 166,744) from $42,118 (RM185,424), according to the company's Chinese website.
This is a record low for China and 43% cheaper than the $65,900 (RM290,124) starting price listed on Tesla's US website.
Meanwhile, the price for the Model 3 dropped to $33,385 (RM146,977) from $38,764 (RM170,658), about 30% cheaper than in Washington.
The price cut comes after December deliveries for Tesla's China-made cars hit a five-month low.
This is not the first time Tesla has taken such a step, where in October 2022 it reduced the price of Model 3 and Model Y by 9% in China.
This is because the electric car maker continues to experience increasing pressure from investors amid reduced production and weak demand.
