TESLA Inc. said yesterday it cut prices of existing inventories of its premium Model S and Model X cars in China by as much as 6.9%, its second round of price cuts in three days.

The U.S. automaker reduced the price of its premium Model S sedan and Model X sport utility vehicle by as much as 70,000 yuan (US$9,600) to 754,900 yuan and 836,000 yuan respectively, according to a company statement published on its official WeChat account yesterday.

The move comes just two days after Tesla marked down the Long Range and Performance versions of the Model Y sport utility vehicle by 14,000 yuan and extended an insurance subsidy for the base version of the Model 3 sedan, keeping the perk in place through the end of next month.

Besides the price cuts, other incentives including free fast charging credits and trials of Tesla’s enhanced autopilot system for referrals remain in place. (SD-Agencies)