As auto deliveries in China plummeted by more than 40% last month,Tesla (TSLA-USA) China has announced a sharp price cut for domestically produced cars. Model 3’s starting price is RMB 229,900 (same below), a record low. The delivery cycle is expected to take one to four weeks.
The latest price posted on Tesla’s Chinese official website on Friday (6) 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 new pricing for Model S and Model X, starting at 789,900 yuan and 879,900 yuan, respectively.
According to the latest data, the expected delivery cycle for Model 3 and Model Y is one to four weeks.
Tesla delivered 55,796 electric vehicles made in China in December last year, a sharp 44% drop from November last year, setting a new five-month low, according to data released Thursday by the China Travel Association. The Passenger and Passenger Federation did not explain Tesla’s domestic and overseas sales figures.
According to data from the Passenger Federation, the delivery volume of Tesla’s Shanghai Gigafactory exceeded 710,000 vehicles last year, an increase of 48%. The Model Y alone delivered more than 450,000 vehicles, almost reaching the Ping Tesla China delivery performance in 2021. of 480,000 vehicles.
Tesla’s car shipments plummeted last month, suggesting the company was cutting production to cope with rising inventories due to sluggish demand.
Tesla has also launched preferential policies. The newspaper reported that after the Chinese government canceled its policy of state subsidies for new energy vehicles, Tesla did not announce a price increase, but instead launched a time-limited 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 single-quarter record, but the number of deliveries was still lower than the analysts’ original estimate of 420,760 vehicles. Annual delivery volume was 1.31 million vehicles, a 40% jump over the previous year, but delivery volume was still below the 50% growth target.
