Tesla (TSLA) offers additional price cuts in China through end of year

A company representative from Tesla (NASDAQ: TSLA) announced on Wednesday that the electric vehicle maker will be offering a limited time discount of 6,000 yuan ($859.20) to Chinese buyers on some models through to the end of 2022.

The discount comes in addition to a previously announced 4,000 yuan insurance subsidy, but is only applicable for customers buying a current car model and completing delivery by the end of December.

Tesla has cut prices for Model 3 and Model Y cars by up to 9% in China, in addition to the insurance incentives. The price adjustments have helped the company’s Shanghai factory to deliver 100,291 China-made electric vehicles (EVs) in November, up 40% from October and the highest monthly sales since it opened in late 2020.

Shares of TSLA are down 2.97% in pre-market trading on Wednesday.

By Michael Elkins | [email protected]

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