Tesla Cuts Model Y Pricing in China, Debuts Model 3 Perk

Tesla has cut the prices of its Model Y compact crossover SUV in China, as of August 13, 2023.

The price cuts only apply to the Model Y Long Range and Performance variants. The announcement, made on Weibo, detailed the price drops (via @Tslachan):

• Model Y Long Range: 313,900 CNY to 299,900 CNY (roughly $41,460 USD; 14,000 CNY; $1,943 USD drop)
• Model Y Performance: 363,900 CNY to 349,900 CNY (roughly $48, 582USD; 14,000 CNY; $1,943 USD drop)

Tesla previously cut Model Y Long Range and Performance prices back in May.

The Model Y isn’t the only Tesla vehicle to get a new perk. Model 3 customers can now also get a limited-time insurance subsidy of 8,000 yuan for the entry RWD version. Also, customers who complete their Model 3 RWD orders and deliveries between August 14 and September 30 will receive a grant of 8,000 yuan ($1,110 USD).

These strategic price cuts aim to attract more potential buyers, solidifying Tesla’s position in the competitive Chinese electric vehicle market.