Tesla cuts price of Model Y versions

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Tesla has cut the price of its two higher-end Model Y vehicles in China by CNY14,000 ($1,900) in the latest salvo.

The electric vehicle maker cut the price of its Model Y long-range and performance to CNY299,900 and CNY349,900 respectively, the company announced on Weibo.

The Model Y forms part of the stable of vehicles, along with the Model 3, which are the best-sellers for Elon Musk’s company.

The latest cuts come after the company last year triggered a price war in China that left competitors with little choice to follow suit. Its China deliveries slumped 31 per cent in July to the lowest level this year.

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