To cope with declining sales? Tesla China reduces the price of Model 3 by 3.7% to 259,500 yuan
Tesla announced on its official website in China that the price of the Model 3 rear-wheel drive version has been reduced by 3.7%, with the new price set at 259,500 RMB (approximately 36,278.99 USD). This price reduction aims to address declining sales, and Tesla stated that the current sales policy will still apply after the price cut, with unfulfilled orders automatically enjoying the new price. Sales data for Tesla in the Chinese market shows that wholesale sales have decreased by 14.6% year-on-year, while retail sales have dropped by 5.4%
According to the Zhitong Finance APP, Tesla (TSLA.US) announced on its Chinese official website on Monday that the price of its Model 3 rear-wheel drive version has been reduced by 3.7%, with the adjusted price set at RMB 259,500 (approximately USD 36,278.99).
Regarding this price reduction, Tesla stated that the starting price adjustment still allows customers to enjoy the current sales policies. Additionally, orders placed before the website update but not yet delivered will automatically benefit from this price adjustment.
This price adjustment involves a change in the sales strategy for this model in China. Previously, this version of the model was updated last month, becoming the Model 3 with the longest range launched by Tesla in the Chinese market, with a CLTC range of up to 830 kilometers, starting at a price of RMB 269,500. The acceleration time from 0 to 100 km/h for this model is 5.2 seconds, which is faster than the rear-wheel drive version (6.1 seconds).
According to the list published by the Ministry of Industry and Information Technology on August 7, titled "Catalog of New Energy Vehicle Models for Vehicle Purchase Tax Exemption (20th Batch)," the Tesla Model 3 single motor long-range version has a CLTC range of 830/800 km and is equipped with a 78.4 kWh battery.
Data from the Passenger Car Association shows that in the first half of this year, Tesla's wholesale sales (including exports) in China reached 364,500 units, a year-on-year decline of 14.6%; retail sales in the Chinese market were 263,400 units, a year-on-year decline of 5.4%.
As Tesla's main product in China, the price changes of the Model 3 series continue to attract market attention. This price adjustment may be related to intensified competition in the new energy vehicle market and cost optimization
