Tesla Drops Prices for Model 3 and Model Y in China

Tesla has lowered the price of select trims of its Model 3 and Model Y vehicles in China, as of January 12, 2024. Price drops range from 2% and up to nearly 6%, depending on vehicle. Clearly Tesla is trying to increase demand in China.

Check out the price changes below…

Model 3

• Model 3 RWD: Previous price 261,400 RMB, reduced by 15,500 RMB (5.93%), new price 245,900 RMB.
• Model 3 Long Range: Previous price 297,400 RMB, reduced by 11,500 RMB (3.87%), new price 285,900 RMB.

Model Y

• Model Y RWD: Previous price 266,400 RMB, reduced by 7,500 RMB (2.82%), new price 258,900 RMB.
• Model Y Long Range: Previous price 306,400 RMB, reduced by 6,500 RMB (2.12%), new price 299,900 RMB.

Tesla’s Gigafactory in Shanghai produces the Model 3 and Model Y. With the beginning of January a typically slow month for automakers, Tesla is dropping prices to increase demand. Let’s see how these price drops will affect weekly registration data as we move from January into February.