Tesla has slashed the prices for its vehicles in China by as much as 13.5% as the automaker confronts low sales and delivery numbers, according to a new Reuters report.

Tesla cut the prices of all versions of its Model 3 and Model Y, from 6% to 13.5%, according to Reuter’s own calculations based on prices it found listed on Tesla’s Chinese website, Tesla.cn.

Those models had already seen price cuts of up to 9% put into effect in October, due to lagging demand. The company had offered additional incentives to Chinese buyers going back to September.

Analysts have attributed the recent slump in demand in China to the government’s decade long subsidy for electric car buyers coming to an end recently. In addition, stiff competition from domestic manufacturers who produce incredibly inexpensive EVs, and the latest covid-19 outbreaks racking the country, have negatively impacted the demand for Tesla vehicles.

According to data from the China Passenger Car Association (CPCA) published on Thursday from November to December, deliveries of Tesla EVs fell by 44%, and in year-over-year terms total sales including exports, fell by 21%. 40% of Tesla’s yearly sales are made in the Chinese market.

The new report will be sure to concern investors, who were already grumbling about the stock price losing almost 70% over the year. It has added to concerns company CEO Elon Musk has been distracted by his recent acquisition of social media company Twitter, and that the controversies erupting over his management decisions at that company may negatively impact sales at Tesla.

In public comments, Musk has noted the company is executing better than ever, however he acknowledged the company’s traditional goal to increase deliveries by 50% per year is now officially off the table going forward, due to these difficult economic times.