Tesla (TSLA.O) announced new standard-range Model S and Model X automobiles in the United States on Monday, priced lower than other variants of the S and X models.
According to the website, the new S and X models were priced at $78,490 and $88,490, respectively.
Earlier in the day, the business announced a price decrease in China for its Model Y long-range and performance models beginning on August 14, sending shares lower on fears of further pressure on profit margins.
Since late last year, Tesla has lowered prices numerous times in the United States, China, and other regions, as well as providing various incentives to reduce inventory, in an attempt to protect itself from competition and economic instability.
In the second quarter, the business shipped 19,225 Model X and S automobiles, up from 16,162 in the previous year.