As China’s car deliveries plummeted by more than 40% last month,Tesla (TSLA-US) China announced a sharp price cut for domestically produced cars. The starting price of the Model 3 is RMB 229,900 (the same below), a record low. The expected delivery cycle is one to four weeks.
The latest price released on Tesla’s China official website on Friday (6th) shows that the starting price of Model 3 is 229,900 yuan, and the starting price of Model Y is 259,900 yuan. Tesla also announced the new prices of Model S and Model X, starting at 789,900 yuan and 879,900 yuan, respectively.
According to the latest data, the expected delivery cycle of Model 3 and Model Y is one to four weeks.
According to data released by the China Travel Association on Thursday, Tesla delivered 55,796 electric vehicles made in China in December last year, a sharp drop of 44% from November last year and a record low in the past five months. The Federation of Passengers and Passengers did not explain Tesla’s domestic and foreign sales data.
According to the data from the Passenger Federation, the delivery volume of Tesla’s Shanghai “Gigafactory” exceeded 710,000 vehicles last year, a surge of 48%. The Model Y alone delivered more than 450,000 vehicles, almost catching up with Ping Tesla China’s 2021 delivery performance of 480,000 vehicles.
Tesla’s car deliveries plummeted last month, suggesting the company was reducing production to accommodate rising inventories amid weak demand.
Tesla also launched preferential policies. The Paper reported that after the Chinese government canceled the state subsidy policy for new energy vehicles, Tesla did not announce a price increase, but instead launched a limited-time preferential policy, with a maximum reduction of 10,000 yuan.
Tesla announced on Monday that it delivered 405,278 vehicles in the fourth quarter of last year, setting a record for a single quarter, but the number of deliveries was still lower than analysts’ original estimate of 420,760 vehicles. The annual delivery volume was 1.31 million vehicles, a jump of 40% from the previous year, but the delivery volume still fell short of the 50% growth target.