Tesla Said to Cut Prices Soon for Model 3/Y in China, Claims Report [Update]

Tesla will reportedly cut prices of its Model 3 and Model Y in China soon, if unnamed sources speaking with Huxiu are to be believed (via CnEVPost).

The publication says a source indicated that Model Y may see a price cut by up to 40,000 yuan ($5,610 USD). Entry Model Y RWD prices may drop to instead start at 270-290,000 yuan ($37,872 to $40,677 USD).

Also, data from Chefans founder Sun Shaojun, says (via Google Translate) “the average number of users entering Tesla stores has dropped by 50% recently compared with April and May this year, from 30 to 35 batches per day to 15 to 17 batches.” The data suggests Tesla is facing higher competition from EV rivals in China.

Tesla has recently cut the estimated delivery times of its Model 3 and Model Y, from a period of 4-5 months to now as soon as 100 days. The entry Model Y priced from 316,900 yuan ($44,450 USD) can be delivered in as little as 18 days on Tesla’s China website.

Earlier this month, Tesla said for all Model 3 and Model Y owners that purchase insurance in-store, can get a discount of 8,000 yuan ($1,122 USD). The move was said to nab customers from scalpers of Tesla vehicles and also encourage owners to take delivery faster to convert orders.

From January to August 2022, Tesla delivered 174,000 Model Y vehicles, a number that’s three-times that of the Model 3 sedan. The Model Y continues to be Tesla’s rising star in China, with the company noting it will soon become the best-selling car globally by volume.

Update Sept. 29, 2022: According to @Moneyball_R (via @TSLAFanMtl), Tesla apparently said the reports of an impending Model Y RWD price drop “are false”.

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