Tesla Posting Steep Loss On Price Cut In China

( - Shares of Tesla Inc. ( TSLA ) have moved sharply lower during trading on Monday, extending the sell-off seen over the past several sessions. Tesla is currently down by 6.8 percent after hitting its lowest intraday level in a month.

Tesla came under pressure early in the session on news the electric car maker has sled prices on its Model 3 by more than 7 percent in China. The starting price for a Model 3 in China is now 499,000 yuan or $72,000.

According to a report from Reuters, the price cut marks the third time in the last two months that Tesla has adjusted its prices in China.

Read the original article on RTTNews (

For comments and feedback: contact

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story



Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More