Tesla Reduces Prices By Over 4.5% For Model S And Model X In China After Offering Cash Subsidies
Portfolio Pulse from Benzinga Newsbot
Tesla Inc. has announced a price reduction of over 4.5% for its Model S and Model X cars in China. This follows the company's decision last month to offer cash subsidies to some buyers of its Model 3 vehicles. The price cuts and the cash subsidy for its more popular models in China underscore Tesla's commitment to enhancing sales in the world's largest and most competitive electric vehicle market.
July 01, 2023 | 7:15 am
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Tesla's price reduction in China could boost its sales in the short term, potentially leading to a positive impact on its stock price.
The price reduction and cash subsidies are aimed at boosting Tesla's sales in China, the world's largest EV market. If successful, this could lead to increased revenues and a positive impact on Tesla's stock price.
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