Tesla cuts prices in China for Model 3, Model Y by up to 13.5% By Reuters

Rate this post

© Reuters. FILE PHOTO: Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS

SHANGHAI (Reuters) -Tesla cut prices for all versions of its Model 3 and Model Y vehicles in China by up to 13.5%, according to its Chinese website on Friday, after its December deliveries of China-made cars fell to the lowest point in five months.

The U.S. automaker reduced the prices for the models by 6% to 13.5%, according to Reuters calculations based on the prices shown on the website.

The starting price for Model 3 was cut to 229,900 yuan ($33,427.84) from 265,900 yuan, and for Model Y was lowered to 259,900 yuan from 288,900 yuan, the website showed.

The move followed a price reduction in October when Tesla (NASDAQ:) cut the prices for those models by up to 9%. The company has been offering incentives as much as 10,000 yuan to Chinese buyers since September.

China’s decision to end a more than decade-long subsidy for electric vehicle purchases has also forced automakers, including Tesla, to deepen discounts to maintain sales as demand eases in the world’s largest market.

Tesla delivered 55,796 China-made electric vehicles in December, marking a 44% drop from November and 21% fewer than a year ago, according to data from the China Passenger Car Association (CPCA) on Thursday, as it reduced output and cut prices to deal with rising inventories.

($1 = 6.8775 )

Authore – Abhi bhardwaj

Hello friends, my Abhi Bhardwaj I am the owner of newsagent24.com and I am also a student. recently I just completed my graduation I am doing blogging since 2020 I love to write and always love exploring, and sharing knowledge with others that is why I started this blog basically this blog is related to us stock market, real estate, insurance, crypto, finance and tax if you have any qouri then please don't be shy

Sharing Is Caring:

Leave a Comment