Tesla once again issues price drop on Model 3, Model Y in China

Beijing (Gasgoo)- On October 24, the US electric vehicle (EV) maker, Tesla, announced a  new round of price drop on the Model 3 and Model Y EVs sold in China. 

Photo credit: Tesla

After the price adjustments, the starting post-subsidy price of the Model 3 lineup came to 265,900 yuan ($36,660), while the Model Y series starts at 288,900 yuan ($39,840). 

Specifically, the Model 3 RWD saw its post-subsidy price drop from the previous 279,900 yuan ($38,590) to 265,900 yuan ($36,660). The price of the Model 3 Performance climbed down from the 367,900 yuan ($50,730) to 349,900 yuan ($48,250).  

In the meantime, after the adjustments, the Model Y RWD is now priced at 288,900 yuan ($39,840) compared to the former 316,900 yuan ($43,700). Additionally, with a 40,000-yuan ($5,515) decrease, the Model Y Long Range is on sale for 357,900 yuan ($49,350). 

Notably, China’s 2022 national new energy vehicle purchase subsidy policy is expected to terminate on December 31, 2022, after which newly registered vehicles will no longer enjoy the subsidy. Moreover, Tesla stressed that orders placed after October 24, 2022 at the new price will not be eligible for insurance subsidies.