Tesla reportedly plans to cut prices in China
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Tesla (NASDAQ:TSLA) plans to cut Model 3 and Model Y prices in China before the year-end for the third time in a quarter after the two recent price cuts failed to boost sales, local tech media Huxiu said in a report today, citing unnamed channel sources.

Tesla (TSLA) had cut prices of Model 3 and Model Y cars by as much as 9% in China in October and announced an additional discount of RMB 8,000 on the final payment in the first week of November. Shares were trading 4% lower on October 24, after the company announced price cuts.
The price cut in late October gave Tesla (TSLA) about 50,000 new orders in China, not the 100,000-170,000 rumored on the Internet, the report said, citing Sun Shaojun, founder of Che Fans, a car consumer platform.
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