Tesla slashes prices in China after country's tariff cut

Tesla has slashed prices for all its models in the Chinese market, following the country's latest auto import tariffs cut, reports jiemian.com.

A Tesla model. [File Photo: VCG]

Jiemian News quoted an internal document of a Tesla store, reporting the car maker's price adjustment took effect at 18:00 on Tuesday, hours after the announcement of China's decision to reduce tariffs on imported cars starting July 1.

The internal file also revealed that local buyers could enjoy a price drop ranging between 40,000 and 90,000 yuan.

The move has yet to be officially confirmed by Tesla.

After the tariff reduction, China's average import tax rate on vehicles will stand at 13.8 percent, while that on auto parts will be 6 percent.

Various foreign auto makers have applauded China's latest tariff cut and are reportedly reevaluating, or considering modifying, their prices. Those companies are said to include Porsche, Volvo, Volkswagen and Audi.

According to the Ministry of Finance, lowering auto import tariffs constitutes a major step in expanding China's reform and opening-up.