Tesla Price change in China

Tesla has lowered the prices of nearly its entire Model 3 and Model Y lineup in China yesterday, setting the stage for increased competition that was already red-hot.

The Model 3 is offered in two versions in China — an entry rear-wheel drive version and a dual-motor, all-wheel drive, long-range version — which previously started at RMB 261,400 ($36,470) and RMB 297,400, respectively.

The US electric vehicle (EV) maker today cut prices for all two versions of the Model 3 sedan by nearly 6 percent, and two of the three versions of the Model Y SUV by nearly 3 percent.

After today’s price cuts, the entry-level Model 3’s latest starting price is RMB 245,900, down RMB 15,500, or 5.93 percent.

The latest starting price for the Model 3 Long Range version is RMB 285,900, a cut of RMB 11,500, or 3.87 percent.

The Model Y is offered in three versions in China — the base rear-wheel-drive version, the dual-motor all-wheel-drive Model Y Long Range, and the dual-motor all-wheel-drive Model Y Performance — with previous starting prices of RMB 266,400, RMB 306,400, and RMB 363, respectively.

After today’s price cuts, the base Model Y’s latest starting price is RMB 258,900, down RMB 7,500, or 2.82 percent.

The latest starting price for the Model Y Long Range is RMB 299,900, a decrease of RMB 6,500, or 2.12 percent.

The starting price for the Model Y Performance remains the same as before at RMB 363,900.

In 2023, Tesla sold 603,664 vehicles in China, up 37.27 percent year-on-year.