Tesla Motors (TSLA-US) China once again announced a big price cut for domestically-produced cars. The starting price of the Model 3 isRMB(The same below) 229,900 yuan, a record low, and the price is cheaper than the United States.
The latest price released on Tesla China’s official website on Friday (6th) shows that the starting price of Model 3 has dropped from 265,900 yuan to 229,900 yuan, which is about 30% cheaper than in the United States; the starting price of Model Y is from 288,900 yuan. The price was lowered to 259,900 yuan, and the price was 43% lower than that in the United States. Tesla also announced the new prices of Model S and Model X, starting at 789,900 yuan and 879,900 yuan, respectively.
According to the latest data, the expected delivery cycle of Model 3 and Model Y is one to four weeks.
According to data released by the China Travel Association on Thursday, Tesla delivered 55,796 electric vehicles made in China in December last year, a sharp drop of 44% from November last year and a record low in the past five months. The Federation of Passengers and Passengers did not explain Tesla’s domestic and foreign sales data.
According to the data from the Passenger Federation, the delivery volume of Tesla’s Shanghai “Gigafactory” exceeded 710,000 vehicles last year, a surge of 48%. The Model Y alone delivered more than 450,000 vehicles, almost catching up with Ping Tesla China’s 2021 delivery performance of 480,000 vehicles.
Tesla’s car deliveries plummeted last month, suggesting the company was reducing production to accommodate rising inventories amid weak demand.
On October 24 last year, Tesla suddenly announced a price adjustment. The Model 3 rear-wheel drive version was priced at 265,900 yuan, a price reduction of 14,000 yuan; the Model Y rear-wheel drive version was lowered by 28,000 yuan to 288,900 yuan.
One of the reasons for Tesla’s multiple rounds of price cuts is that consumer demand is not as good as expected. Since the second half of last year, news of Tesla’s sluggish demand has been heard from time to time. In the Chinese market, Tesla started a “disguised price reduction” promotion in September last year. For car owners who completed the pick-up from September 16 to September 30, Tesla provided an insurance subsidy of 8,000 yuan, and the insurance subsidy can be used directly Reduced or exempted from the car price.
“The Paper” also reported that after the Chinese government canceled the state subsidy policy for new energy vehicles, Tesla did not announce a price increase, but instead launched a limited-time preferential policy, with a maximum reduction of 10,000 yuan.
Tesla announced on Monday that it delivered 405,278 vehicles in the fourth quarter of last year, setting a record for a single quarter, but the number of deliveries was still lower than analysts’ original estimate of 420,760 vehicles. The annual delivery volume was 1.31 million vehicles, a jump of 40% from the previous year, but the delivery volume still fell short of the 50% growth target.