(Yicai Global) July 3 -- Telsa has cut the prices of its flagship Model S and Model X in China for the first time as the US electric vehicle giant sticks to prioritizing sales growth over profits.

The Model S and Model X will be discounted by between CNY35,000 and CNY45,000 (USD4,825 and USD6,204) in China from July 1, Tesla announced on WeChat the same day. The EVs are now priced at CNY773,900 and CNY863,900 (USD106,695 and USD119,113) each.

This is the first time that Tesla has lowered the prices of these models in China. They now cost CNY16,000 to CNY26,000 less than they did at the start of the year, when California-based Tesla introduced them to the Chinese market. It had bumped up their prices by CNY19,000 on May 5. Neither car is produced in China as yet.

Tesla has been slashing prices globally since the end of last year, as it puts sales growth ahead of profits amid a weak economy and greater competition, founder Elon Musk said in April.

Tesla’s deliveries surged 83 percent to a record 466,100 cars in the second quarter from a year earlier, its own data showed today. The automaker shipped 19,200 Model S and Model X and 446,900 Model 3 and Model Y.

Tesla sold 77,700 vehicles in China in May, a 142 percent surge from a year ago, according to data from the China Passenger Car Association. Sales climbed 77 percent to 382,900 in the first five months of the year, compared with the same period of 2022.

Editors: Lv Yining, Martin Kadiev