Earlier today, Tesla quietly announced new pricing for the China market. The Model 3 and Model Y saw their prices cut drastically, and Tesla finally revealed the pricing for the high performance Plaid edition of the Model S and Model Y, both of which were not previously sold in market.
The Model 3 is now priced at CNY 229,900 ($33,415), down from CNY 265,900, a reduction of CNY 36,000 ($5,240). The Model Y is now priced at CNY 259,900 ($37,775), down from CNY 288,900, a reduction of CNY 29,000 ($4,220). The Model S Plaid will cost 789,900 ($114,809) and the Model X Plaid will cost 879,900 ($127,890).
The CPCA report shows that Tesla was outside by two rivals: BYD and SAIC-GM-Wuling Automobile Co, the joint venture of General Motors in China. BYD notably outside Tesla over four to one, delivering 234,598 vehicles.
SAIC-GM-Wuling Automobile Co, the joint venture of General Motors in China making small budget EVs, also outsold Tesla by 53%, according to the association.
Still, Tesla saw growth in China over the year. The CPCA report notes that Tesla delivered 50% more vehicles produced by its Shanghai plan over 2021 levels.
Tesla’s Shanghai plant had temporary paused production in December, and is reportedly set to run at a reduced output in January.
Tesla slashes Model 3, Model Y prices in China for the second time in three months by Matt Burns originally published on TechCrunch