Tesla China kicks off pre-sale of new Model 3, starting at 259,900 yuan

Beijing (Gasgoo)- On September 1, Tesla China officially launched the new Model 3 for pre-order. Contrary to many expectations, the pricing of the new Model 3 hasn't decreased but has seen an increase.

Photo credit: Tesla

According to the official website, the refreshed Model 3 is available in two versions. The refreshed Model 3 Rear-Wheel Drive version starts at 259,900 yuan, while the refreshed Dual-Motor All-Wheel Drive Long Range version starts at 295,900 yuan. Deliveries are expected to commence in the fourth quarter.

In mid-August, Tesla had announced insurance subsidies for existing Model 3 inventory. At that time, the pre-subsidy price for the old Model 3 Rear-Wheel Drive version was 231,900 yuan. With an 8,000-yuan insurance subsidy, customers could complete the purchase for 223,900 yuan. Additionally, referrals from friends could bring an extra discount of 3,500 yuan, reducing the final payment to 220,400 yuan.

This means that compared to the older Model 3, the starting price of the new Model 3 has increased by at least 28,000 yuan, exceeding many people's expectations.

Earlier reports from foreign media had suggested that due to a redesign and reduced component count, the new Model 3 could potentially reduce production costs by up to 14%. This had led to speculation that the price might even drop below 200,000 yuan in China. However, the current pricing strategy from Tesla appears to be different from these optimistic predictions.

Nevertheless, some still speculate that Tesla's pricing strategy might be a move to clear inventory for the older Model 3, and there's still a possibility of a price reduction for the new Model 3 in the future.