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Trade war

Tesla and BMW cut prices after China lowers auto tariffs

High-end brands move to regain ground lost during trade war escalation

Tesla has cut the price in China of the cheapest configuration of its mainstay Model S by 5%.

BEIJING -- Tesla and BMW have reduced prices in China for U.S.-made luxury cars in response to the Chinese government's announcement of a three-month tariff cut, looking to shore up sluggish sales in the world's largest auto market.

Tesla has lowered the price of the cheapest version of its mainstay Model S electric sedan by 5% to about 740,000 yuan ($107,000) and other models by 11%, according to Chinese media. BMW on Saturday announced 4% price cuts for models including the X5 sport utility vehicle imported from the U.S.

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