Tesla (TSLA) is cutting the prices of its Model 3 and Model Y cars sold in China after deliveries of its cars plunged in December, Selina Cheng of The Wall Street Journal report. The Model 3 prices were reduced by 13%, now starting at $32,700, while the Model Y reduced by 6%, now starting at $37,000. While Tesla delivered over 710,000 electric vehicles in 2022, the company is facing greater competition in China. Chinese rival BYD Co. generally has cheaper cars and delivered around 911,000 fully electric vehicles last year. Reference Link
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