For its existing stocks of Model S and Model X vehicles in China, Tesla has reduced prices by roughly 7%.

The industry titan for electric vehicles said as much on Wednesday, August 16.


On the Chinese social media site Weibo, a Tesla post revealed

The Model S's price dropped 6.7% to little under $103,500.

It used to be accessible for about $111,000 in price.

The Model X, another high-end model, now has a starting price of roughly $114,700, down 6.9% from before.

Just a few days earlier, Tesla announced another round of pricing reductions in China.

The cost of the performance and long-range versions of the Model Y was decreased by the automaker on Monday.