On January 12th, the official Tesla China website revealed that the price of the Tesla Model 3 Rear-Wheel Drive Refreshed version has been lowered by 15,500 yuan, now priced at 245,900 yuan, down from 259,900 yuan. The Model 3 Long Range Refreshed version also sees a price reduction of 11,500 yuan, now priced at 285,900 yuan.
Both models of the Model Y have simultaneously undergone price cuts. The Model Y Rear-Wheel Drive version has been reduced by 7,500 yuan to 258,900 yuan, while the Model Y Long Range version sees a price drop of 6,500 yuan to 299,900 yuan. The delivery time for both models is estimated to be 2-6 weeks.
In September 2023, Tesla introduced the Refreshed version of the Model 3, and at that time, the price of the Refreshed model had already been adjusted compared to the older version. Subsequently, amidst widespread price reductions by other car manufacturers, Tesla, contrary to the trend, increased prices on November 14th. The Model 3 Rear-Wheel Drive version increased by 1,500 yuan to 261,400 yuan, while the Model Y Rear-Wheel Drive version increased by 2,500 yuan to 266,400 yuan.
At that time, industry analysts speculated that Tesla's price increase was a response to less favorable financial reports. According to Tesla's third-quarter financial report for 2023, the total revenue for the quarter was $23.35 billion, a 9% year-on-year increase, but the gross profit was $4.178 billion, a 22% year-on-year decrease.
Cui Dongshu, Secretary-General of the National Passenger Vehicle Market Information Joint Conference, believed that Tesla's decision to raise prices for the Model Y and Model 3 was due to increased profit pressure, leading to a pricing adjustment strategy.
However, the price increase did not negatively impact Tesla's sales performance. According to data from the China Passenger Car Association, Tesla's Shanghai Gigafactory delivered 94,100 electric vehicles in December 2023, a 69% year-on-year increase.
On a global scale, in the entire year of 2023, Tesla delivered a total of 1.8086 million vehicles, a 38% year-on-year increase. The delivery volume for Model 3/Y reached an impressive 1.7397 million units.
