Considering the current economic conditions, Tesla has recently announced a reduction in the price of its electric cars in China. The decision for price reduction is a direct action for increasing the sales of Tesla electric cars in China market. China is one of the major automotive markets in the world.
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But NOT all are happy in China because of the price reduction in Tesla electric cars.
As per the latest report by Reuters, approximately 200 Tesla owners, who have purchased Tesla Model Y and Model 3 recently, gathered to protest at Tesla’s showrooms across China. The protest is because of the recent reduction in Tesla Model 3 and Model Y.
Protestors were claiming that it is unfair for them that, they did get the benefit of this recent price reduction and demanding compensation, either in the form of a rebate or credit.
Recent Tesla buyers were also unhappy about the fact that Tesla has reduced its price a second time in the past 3-4 months, which they felt was unfair, compared to the price they paid to buy their Tesla without a price cut.
The company is not able to reach the expected sales number in its recent financial report. Particularly in the China market, CPCA (China Passenger Car Association) reported a reduction of Tesla shipments by 44% due to the reduction in its demand.
What was the price of Tesla Models earlier?
Earlier, the price of the Tesla Model 3 was approximately $38883 (CNY 265,900) and the price of the Tesla Model Y was approximately $42247 (CNY 288,900).
When did Tesla reduce the price of Tesla Models?
Tesla has corrected their electric car price quite a few times in the recent past.
Earlier, the company reduced the price of electric cars in October month of 2022.
Now, Again, Tesla reduced the price of Model Y and Model 3 again in January 2023.
How much price reduction of Tesla Models?
Earlier, in October 2022, the company had reduced the price of Model 3 and Model 4 up to 9 percent.
This time, they have reduced the price of Model 3 by 13.54 percent. The current price of Model 3 is $33,415 (CNY 229,900).
The price of Model Y is reduced by 10 percent and the current price of Model Y is $37,775 (CNY 259,900).
Final Words
Considering the current economic conditions of the automobile industry across the globe, Tesla is taking the necessary steps to keep up. Without a doubt, Tesla is one of the best companies in the world for fully electric cars.
As Tesla is planning to increase its sales numbers in China, which was not favorable in the recent financial report, the company has taken the step to reduce the EV price.
Unfortunately, it did not make a positive impact so far as it is making few of the customers unhappy.
