Tesla (TSLA.O) introduced new standard-range Model S and Model X cars in the United States on Monday, priced lower than other versions of the S and X models.
Tesla’s S and X models
According to the website, the new S and X models were priced at $78,490 and $88,490, respectively.
Earlier in the day, the company announced a price cut in China for its Model Y long-range and performance versions beginning on August 14, sending shares lower on fears of further pressure on profit margins. Since late last year, Tesla has slashed prices several times in the United States, China, and other markets.
As well as offered other incentives to reduce inventory, in an attempt to protect itself from competition and economic uncertainty. In the second quarter, the company delivered 19,225 Model X and S vehicles, up from 16,162 in the previous year.
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