Tesla cuts China prices by up to 9% as analysts warn of ‘price war’

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Reuters UK

SHANGHAI (Reuters) -Tesla has cut starter prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of increases across the industry amid signs of softening demand in the World’s largest auto market. The price cuts, posted in listings on the electric vehicle (EV) giant’s China connection on Monday, are the first by Tesla in China in 2022, and come after Tesla began offering limited incentives to buyers who opted for its insurance last month. Shares of the Austin, Texas-based firm were down 3.3% at $207.36 in trading before the bell. The price cuts also follows Tesla Chi…

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