The Tesla Model 3 is the world’s best-selling electric vehicle (EV), and frequent reductions in price around the world are a small part of the reason why.
According to the company’s website, Tesla has dropped the prices in Japan on its flagship Model 3, with the Standard Range Plus (SR+) decreasing by 16% and the Long Range (LR) price dropping nearly 24% (via @SawyerMerritt).
NEWS: Looks like the Model 3 has received a price drop in Japan.
• 16% drop for SR+
• 23.8% drop for Long Range pic.twitter.com/CQkMdgDrq5— Sawyer Merritt (@SawyerMerritt) February 18, 2021
Tesla’s SR+ Model 3 now costs just 4,290,000 yen ($40,536.21 USD) for buyers in Japan, and similarly, the LR Model 3 is now just 4,990,000 yen ($47,150.51 USD).
Recently, Japan’s Ministry of the Environment and the Ministry of Economy, Trade, and Industry elected to double current EV incentives to 800,000 yen ($7,700 USD) from the previous 400,000 yen ($3,850), which will offer even better deals on the EV to those in Japan, starting in April.
Japan, like many countries, states, and provinces around the world, has also begun considering a new gas car ban by 2035. While the country has yet to firmly set the goal, it has also set its sights on becoming carbon neutral by 2050.
On late Wednesday evening, Tesla also cut the entry prices of the Model 3 and Model Y by up to $2,000 in the United States.
Tesla’s price cuts in Japan likely have something to do with its cars now being exported from Gigafactory Shanghai, though other factors may be contributing too. We’re currently witnessing the beginning of a major exodus from internal combustion engine vehicles, as the EV market just begins heating up – which will help EV enthusiasts see more price cuts across the board in the years to come.
