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Tesla has decided to tweak its Model 3/Model Y offer in China, potentially to boost sales results and secure a strong third quarter volume.

Tesla has once again cut vehicle prices in China. The new price cuts lower the starting price of the Model Y Long Range & Performance by $1,950. The price cuts are expected to further lower Tesla's operating gross profit which is already down 50% in 2023.

Tesla announced on Monday that it's slashing prices for its Model Y long-range and performance versions in China, effective from August 14th. This move has raised concerns about potential profit margin pressures and caused a dip in the company's shares. In a break from its trend since January, Tesla has taken the step of reducing its car prices in China to tackle heightened competition. The automaker had previously been using various incentives to boost sales in the region. This move

Tesla Cuts Prices In China: The car company dropped the starting prices of both models by 14,000 yuan (USD 1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%.

The Model Y forms part of the stable of vehicles, together with the Model 3, which are the best-sellers for Elon Musk’s company.