US electric car maker Tesla launched a cheaper version of its Model Y on Thursday in China, facing increased scrutiny from regulators and growing competition from local rivals.
The price of the launched Model Y vehicles is 276,000 yuan (42,588 dollars). The China Passenger Car Association said Tesla’s sales of cars made in China fell in June from the previous month.
The company, which makes Model 3 sedans and Model Y sports utility vehicles in Shanghai, sold 33,155 cars made in China, including those for export, compared with 33,463 in May.
The price reduction allows benefiting from the support obtained by new electric cars whose price is less than 300,000 yuan, which is why the latest version of the “Model Y” is convenient to take advantage of at its new price.