Tesla Stock Slides After China Price Cut Raises Demand Questions- Newshubweek

Tesla Stock Edges Lower Following Solid August China Sales Data
Written by Arindam

Tesla  (TSLA)  shares extended declines Monday after it cut prices for its China-made cars for the first time this year, suggesting softening demand in the world’s biggest market.

Tesla, which has been raising costs of its U.S.-made cars for much of the year, reduced the starter price of its Model 3 sedan by around 5.3%, and cut the cost of its Model Y by 9%, just days after its third quarter earnings reported echoed the impact of rising production costs and indicating narrowing profit margins for the world’s most-valuable car company.

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