Tesla Cuts Prices of Model S and Model X in China

Tesla has announced significant price cuts for its Model S and Model X vehicles in China.

On the company’s Weibo account on Wednesday, Tesla said the Model X is now priced at 836,900 Chinese yuan ($114,677), down from its original 898,900 yuan. Similarly, the Model S now retails at 754,900 yuan, a decrease from the previous 808,900 yuan.

These reductions come shortly after Tesla made price adjustments for its Model Y and Model 3 in China.

The cuts come after the Model S and Model X saw a price increase of 19,000 yuan on May 5.

Check out the prices shared by Tesla below:

On July 1, Tesla gave RMB 35,000 to 45,000 discounts for pre-produced Model S and X in China, nearly doubling these discounts recently. They’re also promoting referrals for both models, offering buyers RMB 7,000 incentives, free supercharging, and 90 days of Enhanced Autopilot. Referrers get 48,000 bonus points for supercharging.

Furthermore, on August 14, Tesla reduced two Model Y versions by RMB 14,000 and provided RMB 8,000 insurance subsidies for certain Model 3s in China.