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Tesla missed market estimates for third-quarter deliveries on Monday as planned upgrades at its factories to roll out a newer version of the Model 3 mass-market sedan forced production halts.
Tesla shares fell nearly 6% on Friday after the electric automaker unveiled a restyled, China-made Model 3 with a higher price, while slashing prices of its premium vehicles and its "Full Self-Driving" (FSD) software.
With dealers again sitting on full lots, prices are falling, though they're dropping faster on some models than others.
Tesla has lowered the prices of its premium Model S and Model X in China by up to 6.9% in a bid to increase sales, according to a post by the company on Weibo. This comes after sales of China-made Tesla vehicles fell 31% month-on-month in July due to some production being halted for a revamped Model 3 launch.
Tesla has launched more affordable versions of its Model S sedan and Model X SUV in the U.S. and Canada, but there's a catch.