Tesla Cuts Price of Entry Model 3 and Model Y in China
Tesla launched a New Year’s promo in China for Model 3 and Model Y, and now more purchase incentives are coming in the form of a price drop on entry models.
The electric automaker has lowered the price of Model 3 RWD and Model Y RWD, to match the recent end of New Energy Vehicle (NEV) subsidies by the Chinese government that ended on December 31, 2022.
The federal subsidies were 11,088 yuan ($1,607 USD) in 2022 and now Tesla has applied a near equivalent discount to the Model 3 and Model Y of 10,000 yuan ($1,550 USD) off, a combination of a 4,000 yuan insurance and 6,000 yuan delivery subsidies (via @Tslachan):
- Model 3 RWD: 255,900 yuan
- Model Y RWD: 278,000 yuan
Back in November, reports claimed Tesla was set to cut prices in China, which the automaker denied. Now we’re seeing price cuts to kick off 2023, aimed at spurring more sales.
Tesla is expected to announce its Q4 and full-year 2022 production and delivery numbers on Monday morning. You can see a summary of estimates from Wall Street analysts and others below, compiled by Mathias Føns:
Tesla Q4 '22 Compiled Analyst P&D Estimates pic.twitter.com/unXWFoKIzC
— Mathias Føns (@FonsDK) January 1, 2023