Tesla cuts prices in China and other Asian markets as sales drop

Tesla cut electric car prices in China for the second time in less than three months on Friday, stoking expectations for a wider price war for battery-powered vehicles in the world’s largest auto market where demand has weakened.

In December, the company sold 55,796 Chinese-made electric vehicles - the lowest in five months - down 44 per cent from November.

On Friday, Tesla slashed prices for all versions of its Model 3 and Model Y cars in China between 6 per cent to 13.5 per cent, according to Reuters, based on prices shown on its website.

Sign up for our newsletters.