{"id":11632,"date":"2023-08-14T15:36:35","date_gmt":"2023-08-14T15:36:35","guid":{"rendered":"https:\/\/isafespend.com\/news\/tesla-cuts-prices-again-in-china-for-model-y-model-3\/"},"modified":"2023-08-14T15:36:36","modified_gmt":"2023-08-14T15:36:36","slug":"tesla-cuts-prices-again-in-china-for-model-y-model-3","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=11632","title":{"rendered":"Tesla cuts prices again in China for Model Y, Model 3"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Tesla<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> has once again cut prices in mainland China, a competitive move that sent shares sliding as much as 3% in Monday morning trading.<\/p>\n<p>Shares pared back their earlier losses to trade slightly negative, down around 1.5% by midday. The automaker announced the moves in a Weibo post late Sunday evening.<\/p>\n<p>Two Chinese versions of Tesla&#8217;s Model Y crossover, priced at 299,000 and 349,000 yuan, have been discounted by 14,000 yuan, or around $2,000.<\/p>\n<p>The Model 3 will have a &#8220;limited-time insurance subsidy&#8221; of 8,000 yuan, or around $1,100. The insurance subsidy will last until September, according to Tesla&#8217;s post.<\/p>\n<p>A ferocious price war between Tesla and domestic Chinese automakers such as BYD, Nio and Xpeng ate into Tesla&#8217;s margins in the second quarter of 2023. Tesla has lost ground to domestic competitors, even as it ramps up production in its Shanghai Gigafactory.<\/p>\n<p>Tesla cut prices multiple times throughout 2022 and 2023, in an effort to clear out inventory and grow deliveries, the closest approximation the company offers to sales.<\/p>\n<p><em>\u2014 CNBC&#8217;s Hakyung Kim contributed to this report.<\/em><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/08\/14\/tesla-model-y-price-cuts-in-china-send-stock-down.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla has once again cut prices in mainland China, a competitive move that sent shares sliding as much as 3% in Monday morning trading. Shares pared back their earlier losses to trade slightly negative, down around 1.5% by midday. The automaker announced the moves in a Weibo post late Sunday evening. Two Chinese versions of<\/p>\n","protected":false},"author":1,"featured_media":11633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-11632","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla cuts prices again in China for Model Y, Model 3 | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Tesla has once again cut prices in mainland China, a competitive move that sent shares sliding as much as 3% in Monday morning trading.Shares pared back\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=11632\" \/>\n<meta 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