The cuts on the Model Y trims in China were only $2,000 off on two higher-trim versions. The entry-level Y's price hasn't changed. Troy estimates that the entry-level Y is 80% of deliveries, while the Long Range is 14% and Performance is 6%.

The Long Range drops in price from $43K to $41K & the Performance from $50K to $48K. Don't know if that moves the needle too much on these expensive trims (who many incremental buyers are there with only a $2K price cut?), so hard to say.

But, what could happen is mix improvement if the entry-level Y falls to, say 78% and the LR rises to 18% and the Performance stays at 4%. So that's something to be aware of. But this may only offset the $1K discounts for the Model 3 & the depreciating currency.

S/X is a steep discount. A $10K price drop will increase the % of those S/X trims, so expect lower avg prices for S/X sales in North America. All in all, it doesn't look good and we haven't had the factory closures for "upgrades" as Musk mentioned.

Assuming a 5% QoQ drop in deliveries, flat China pricing & -3% in Rest of the World ASPs, I'm seeing around $0.67 in non-GAAP EPS for Q3. This is 17% below consensus estimates of $0.81