Tesla Slashes Prices for Model S and Model X in the Chinese Market
Tesla (NASDAQ: TSLA) has recently made significant price adjustments to its high-end Model S and Model X vehicles in the Chinese market. These changes come after the company initially introduced substantial discounts.
The new pricing strategy affects both the Tesla Model S and Model X, which are available in China in two versions: an entry-level dual-motor all-wheel-drive variant and a more premium tri-motor all-wheel-drive Plaid edition.
Here are the updated starting prices for these vehicles:
- Dual-Motor Model S: The starting price has been reduced to RMB 698,900 ($96,190), marking a decrease of RMB 110,000 or 13.6 percent from the previous RMB 808,900 displayed on Tesla’s China website.
- Tri-Motor Model S Plaid: The starting price now stands at RMB 828,900, reflecting a significant drop of RMB 200,000 or 19.44 percent compared to the previous RMB 1,028,900.
- Dual-Motor Model X: The new starting price is RMB 738,900, which represents a reduction of RMB 160,000 or 17.80 percent from the previous price of RMB 898,900.
- Tri-Motor Model X Plaid: The starting price for this variant has been adjusted to RMB 838,900, down by RMB 220,000 or 20.78 percent from the previous RMB 1,058,900.
It’s worth noting that Tesla’s Shanghai factory currently produces the more affordable Model 3 and Model Y vehicles. The new Model S and Model X were imported into China earlier this year.
The most recent price change for these high-end models on Tesla’s China website occurred on May 5, when prices were increased by 19,000 yuan across all versions. Subsequently, from May 5 to August 31, there were no further alterations to the prices displayed on the website. However, Tesla has been actively offering significant discounts on both the Model S and Model X over the past two months.
On July 1, Tesla announced discounts ranging from RMB 35,000 to RMB 45,000 for the Model S and Model X vehicles that had already been produced in China. This discount was further increased to RMB 54,000 to RMB 70,000 on August 16.
Despite Tesla’s website showing no changes in the Model S and Model X prices over the past two weeks, it’s important to note that the actual starting prices for these models were lowered to RMB 754,900 and RMB 836,900 on August 16, respectively.
In addition to these price adjustments, Tesla has recently initiated pre-sales for the updated Model 3 sedan in China, which comes with a higher price tag compared to the older model.
