Tesla cuts Model 3 prices in China

A Tesla Model 3 car is displayed during a media preview at the Auto China 2018 motor show in Beijing, China, April 25, 2018. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) – Tesla, Inc has slashed prices on its Model 3 electric car in China.

According to the California-based electric car manufacturer of the Chinese website are the prices of a particular Model 3 cars were cut by up to 7.6 percent. The starting price for a Model 3 in China now is 499,000 yuan ($72,000).

It was the third time in the last two months that Tesla has adjusted its prices in China. In November, the company cut the prices of the Model X and Model S cars with 12 to 26 percent.

Tesla at the time said was “absorbing a large part of the rate to help make the cars more affordable for the customers in China”.

Earlier this month Tesla to cut the prices on the Model S and the Model X, after China’s ministry of finance said that it would suspend additional import duties on US vehicles and car parts for three months, from January, lowering the costs of importing AMERICAN manufactured Tesla cars in China for sale.

Reporting Yilei Sun and Norihiko Shirouzu in Beijing; Editing by Hugh Lawson

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