(Bloomberg) — Tesla Inc. has cut prices in China and the US, its two key markets, after disappointing first-quarter sales contributed to swelling inventory.
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In China, Tesla lowered prices across its range, with the revamped Model 3 falling to 231,900 yuan ($32,000) from 245,900 previously. The Model Y was discounted to 249,900 yuan — or about $34,500 — from 263,900 yuan.
In the US, the cheapest version of the Model Y is now $42,990, returning the sport utility vehicle’s starting price to the lowest it’s been. Tesla also discounted the two other more expensive versions of the Model Y by $2,000, and dropped the price of the Model X to its lowest yet.
The cuts cap a wild week for the Austin-based automaker,…
