American electric car giant Tesla has cut the price of the Model 3 Long Range rear-wheel-drive version in China less than a month after its launch.
According to Phoenix Technology, Tesla's official online store showed on Monday (September 1) that the Model 3 Long Range rear-wheel-drive version is now priced at 259,500 yuan (RMB, approximately 153,700 MYR).
The report said this model was officially released on August 12, and is currently Tesla’s model with the longest range. The original price at launch was from 269,500 yuan. This means that the price has been reduced by 10,000 yuan in less than a month.
Bloomberg had previously reported that, despite the Chinese authorities urging to avoid “malicious competition” in June, data showed that in the face of overcapacity and weak consumer confidence, seven car brands still increased their discounts. Other brands slightly reduced or maintained their original discounts. Overall, promotional activity in July remained higher than the same period last year.
BYD, the top-selling brand in China, cut prices significantly at the end of May, drawing close attention from authorities.
However, BYD made only minimal adjustments in July, with the average discount rate dropping from 7.9% in June to just 7.5%.
According to Phoenix Technology, Tesla's official online store showed on Monday (September 1) that the Model 3 Long Range rear-wheel-drive version is now priced at 259,500 yuan (RMB, approximately 153,700 MYR).
The report said this model was officially released on August 12, and is currently Tesla’s model with the longest range. The original price at launch was from 269,500 yuan. This means that the price has been reduced by 10,000 yuan in less than a month.
Bloomberg had previously reported that, despite the Chinese authorities urging to avoid “malicious competition” in June, data showed that in the face of overcapacity and weak consumer confidence, seven car brands still increased their discounts. Other brands slightly reduced or maintained their original discounts. Overall, promotional activity in July remained higher than the same period last year.
BYD, the top-selling brand in China, cut prices significantly at the end of May, drawing close attention from authorities.
However, BYD made only minimal adjustments in July, with the average discount rate dropping from 7.9% in June to just 7.5%.