Tesla’s recent price cuts in China have reportedly led to an increase in deliveries. According to a mid-level executive at the company, Tesla delivered over 10,000 vehicles in China on the day of the price cut.
Additionally, over the weekend, more than 200 Tesla vehicles were delivered each day in Ningbo, Zhejiang province. The price cuts, which affected the full Model 3 and Model Y lineup, were Tesla’s second in China in three months and have sparked protests from some recent buyers.
Tesla has recently reduced the prices of its Model 3 and Model Y vehicles in China, in an effort to boost demand for its electric vehicles (EVs) in the country. The entry-level, rear-wheel drive Model 3 now starts at CNY 229,900 ($33,430), a decrease of CNY 36,000 from the previous price of CNY 265,900.
This is the lowest starting price ever for a Model 3 in China, even lower than the January 2021 starting price of CNY 249,900. The entry-level, rear-wheel drive Model Y now has a starting price of CNY 259,900, down CNY 29,000 from the previous price of CNY 288,900.
The price cuts are seen as a response to a slump in demand for Tesla’s EVs in China, as the company sold 55,796 China-made vehicles in December, a decrease of 44.37% from November and 21.24% from the same month the previous year, according to data from the China Passenger Car Association.
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