Tesla reduced the price of its Model 3 rear-wheel drive variant in China by 3.7% to 259,500 yuan ($36,278.99), as indicated on its website on Monday.
The American car manufacturer introduced the new Model 3 version, its farthest-reaching Tesla model, in China last month.
The long-range rear-wheel-drive version of the Model 3 is famous for its remarkable range of 830 kilometers on one charge and its acceleration, achieving 0-100 km/h in 5.2 seconds.
Even with this notable price reduction, the entry price for the Model 3 is still 235,500 yuan, and the costs for the premium variants, the long-range all-wheel-drive and performance all-wheel-drive models, stay the same at 285,500 yuan and 339,500 yuan, respectively.
This price cut is probably a tactical decision by Tesla to preserve its competitive advantage in the fast-changing electric vehicle industry.
The fierce rivalry from both emerging and established competitors has compelled Tesla to evolve and innovate.
Moreover, the recent introduction of the Model Y L, a 6-passenger SUV, underscores Tesla’s commitment to broadening its product range and securing a greater market presence.
The Model Y L, costing 339,000 yuan, offers a 6-seat configuration and intends to rival well-liked 6-seater electric SUVs. Nonetheless, the Model Y L has faced criticism for its space and comfort performance, which some argue does not match that of its rivals. Nonetheless, the advanced three-motor system of the Model Y L continues to be a significant selling point.
