Tesla’s Model Y just got cheaper, but BYD is still miTesla Model Y price cut fails to beat BYD in global EV price warles ahead

Tesla has cut prices on its bestselling models to compete with Chinese rivals that have been giving it a run for its money.

On October 7, the company reduced the sticker prices of Model Y and Model 3 by $5,000 each, aiming to offset the $7,500 federal tax credit for new electric-vehicle purchases that expired on September 30. The cheaper models first unveiled in the U.S. won’t include some premium features, including autosteer, touchscreens, and heated rear seats.

The price reduction…