Tesla cuts prices in China by up to 9% amid softening demand
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After shortfall in Q3 deliveries, Tesla (NASDAQ:TSLA) cut prices for its Model 3 and Model Y cars by as much as 9% in China, according to the company's site.
Most of the models and model variants seem to have come down between 15,000 and 30,000 Chinese yuan.

A Model Y, for instance, now starts at about 288,900 yuan from 316,900 yuan and Model 3 sedan starts at 265,900 yuan from 279,900 yuan.
The price cuts come after Tesla Chief Executive Elon Musk said last week that "a recession of sorts" was under way in China and Europe and Tesla said it would miss its vehicle delivery target this year.
Tesla told Reuters it was adjusting prices in line with costs.
The automaker delivered 83,135 China-made EVs in September, an 8% increase from August.
For Q3, the company delivered 343,830 vehicles, missed analyst estimate of 357,938.
Shares down 4% PM.
Last week, the company reported mixed Q3 results and warned that deliveries could hit a slight speed bump in Q4 due to supply chain and logistical issues.