Tesla Drops Prices in South Korea Again, as New Subsidies Debut

Tesla has dropped the prices of its Model 3 and Model Y in South Korea for the second consecutive month, with these vehicles now qualifying for the country’s subsidies for electric vehicles.

The nation’s subsidies are 2.6 million won (about $2,120 USD), while local government subsidies have yet to be announced.

Thusly, the following price changes have kicked in as of Thursday, according to @Tslachan:

Model 3

• RWD: 59,990,000 KRW (was 64,340,000 KRW)
• Performance: 75,590,000 KRW (was 88,175,000 KRW)

The discounts work out to a 7.2% drop for the RWD and 16.6% for the Performance.

Model Y

• Long Range: 77,890,000 KRW (was 84,999,000 KRW)
• Performance: 82,690,000 KRW (was 94,731,000 KRW)

The Long Range drops 9.1%, while the Performance price has fallen 14.5%.

The Tesla website prices do not include the new state subsidies, so prices are even cheaper. Tesla continues to drop prices for its vehicles around the world, triggering a price war against other automakers. Back in early January, Tesla dropped prices in South Korea for Model 3 and Model Y, but this time around we’re seeing yet another price drop less than one month later.