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Tesla makes further price cuts in China, reducing models S and X by $7,400 to $8,500

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Tesla makes further price cuts in China, reducing models S and X by $7,400 to $8,500

Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023.

Florence Lo | Reuters

Tesla on Wednesday slashed the price of the existing inventory of its Model S and Model X cars in China, as the company looks to boost sales amid rising competition in one of its key markets.

The Model X is on sale for 836,900 Chinese yuan ($114,677) down from 898,900 yuan…

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