The increasing competition among electric vehicle manufacturers in China has brought Tesla price cuts. Tesla reduced the price of Model 3 and Model Y vehicles by 9.4%.
Energy Diary – US electric vehicle maker Tesla has slashed sales prices for Model 3 and Model Y cars by up to 9% in China. Signs of softening demand for US electric vehicle manufacturer Tesla’s vehicles in China reversed the upward trend in the industry.
Tesla, which offered insurance incentives to increase vehicle sales last month, has now discounted two vehicle models. Tesla reduced the price of Model 3 and Model Y vehicles by 9.4% in China. According to the information on the Tesla website, the starting price for the Model 3 sedan has been reduced from 279,900 yuan to 265 thousand yuan ($ 36,727). The starting price for Model Y was also reduced from 316,900 yuan to 288,900 yuan. It is stated that this development is the result of increasing competition for EV manufacturers in China and the forecast that sales in the sector will decrease.