Tesla cut prices for Model 3 and Model Y in China for the second time in less than 3 months on Friday, January 6th. In late October 2022, Tesla announced price cuts up to 9% on Model 3 and Model Y. The latest cut in China, along with October’s price adjustment and recent incentives mean a 13% to 24% reduction in Tesla’s prices from September.
The starting price for Tesla Shanghai factory built Model 3 dropped to CNY￥229,990 (CAD $45,425) from￥265,900. The starting price of Model Y (rear-wheel drive, standard range) is CNY￥259,900 (CAD $51,351) , down from ￥288,900. Meanwhile in Canada, the starting price for Model 3 is CAD $59,990. The starting price for Model Y (all-wheel drive, long range ) is CAD $85,000.
Deliveries of Tesla Shanghai plant built cars hit their lowest in five months in December. According to the China Passenger Car Association (CPCA)’s report, Tesla delivered 55,5796 vehicles in December. The report shows Tesla’s biggest rival BYD delivered 234,598 vehicles.
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