Tesla has cut its prices in China amid concern over the strength of demand in the world’s largest car market.
Shares in the automotive group led by Elon Musk fell after the prices of vehicles on its Chinese website were reduced by as much as 9 per cent.
Last week Musk, 51, Tesla’s chief executive, suggested that the world was entering a recession that could last until the spring of 2024 after his company said it was likely to fall slightly short of a target for delivery growth of 50 per cent this year.
China was already “experiencing a recession of sorts”, albeit largely in the property market, Musk said. The carmaker has a vast factory in Shanghai and is trying to
