Following months of falling sales, automaker Tesla has lowered prices of its electric vehicles in major markets, including the U.S., China and Germany.
Tesla, owned by Elon Musk, has been facing an intensifying price war between other EV automakers, with competition from China striking particularly hard.
In the U.S., prices for the Model Y, Model X and Model S were cut by $2,000, while in China, the starting price of the Model 3 was reduced by 14,000 yuan to 231,900 yuan.Tesla also lowered prices in other countries in Africa, the Middle East and Europe.
“Tesla prices must change frequently in order to match production with demand,” Musk said in a post on X.
