Tesla Slashes Prices of Model 3 and Model Y in China

The move aims to maintain Tesla's leading position in the world's largest EV market amid increasing competition.

Tesla has cut the prices of its Shanghai-made vehicles by up to 6 per cent to maintain its leading position in the premium segment of the world’s largest electric vehicle (EV) market.
The price of the entry-level edition of its Model 3 will be reduced from 261,400 yuan (US$36,814) to 245,900 yuan, while the starting price of the Model Y is now 258,900 yuan, down from 266,400 yuan.
Tesla reported 15.7 per cent month-on-month sales growth to 75,805 units in mainland China in December.
Tesla delivered 603,664 EVs made in its Shanghai Gigafactory to buyers in China last year, up 37.3 per cent from 2022.
Sales of electric cars in China jumped 37 per cent last year, with deliveries of pure EVs and plug-in hybrids hitting 8.9 million units.