Tesla cuts prices of Model S variant in United States, China

In this news, we discuss the Tesla cuts prices of Model S variant in United States, China.

(Reuters) – Tesla Inc. TSLA.O said on Tuesday it had cut the price of its Model S “Long Range” sedan in the United States by 4%, days after the electric car maker announced record quarterly deliveries.

The company, which is expected to release its third quarter results on Oct. 21, reduced the price to $ 71,990, from $ 74,990 in the United States. It also slashed the Model S’s starting price by 3% in China. (bit.ly/34PqCew)

Earlier this month, the automaker slashed the starting price of its Chinese-made Model 3 sedans by about 8% to 249,900 yuan ($ 36,805).

Tesla said it delivered 139,300 vehicles in the third quarter, an all-time high, but shares fell as some analysts doubt Tesla could meet its ambitious year-end goal.

Shares of the automaker, which have jumped more than five times this year, rose nearly 1% to $ 445.25 in pre-market trading.

Report by Akanksha Rana in Bengaluru; Edited by Arun Koyyur

Original © Thomson Reuters Corporation

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