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HomeAutomotive news China, Europe, USAEV / Electric vehicleTesla slashes prices of premium models by 45,000 yuan (6,204 USD) in...

Tesla slashes prices of premium models by 45,000 yuan (6,204 USD) in China

On July 1, Tesla announced on their Chinese social media accounts that it cut the entire Model S and Model X lineup prices. The discount is about 4.5%, and depending on the trim, it ranges between 35,000 – 45,000 yuan (4,825 – 6,204 USD). Both premium models started deliveries in the Middle Kingdom only three months ago, in March.

Both discounted models are imported as Tesla’s Giga Shanghai plant manufactures only the Model Y SUV and Model 3 sedan. The premium electric sedan Model S now costs 773,900 yuan (106,690 USD), packing dual motors and all-wheel drive, while Model X would cost you 988,900 yuan (136,330 USD), packing three independent motors and AWD.

Here is the complete list of new Tesla prices in China after the discount:

  • Model S, dual motors, AWD: 773,900 yuan
  • Model S Plaid, three independent motors, AWD: 988,900 yuan
  • Model X, dual motors, AWD: 863,900 yuan
  • Model X Plaid, three independent motors, AWD: 1,013,900 yuan

On January 6, Tesla introduced Model S and Model X for China and unveiled the prices. They were as follows:

  • Model S, dual motors, AWD: 789,900 yuan
  • Model S Plaid, three independent motors, AWD: 1,009,900 yuan
  • Model X, dual motors, AWD: 879,900 yuan
  • Model X Plaid, three independent motors, AWD: 1,039,900 yuan

Our readers also remember that January 6 was when Tesla significantly reduced the prices of Model Y and Model 3, accelerating the bloody price war still raging in China with no end in sight.

Model S and X deliveries started on March 27, and on May 5, Tesla even showed some confidence and raised the prices of both models by 19,000 yuan (2,600 USD). However, the US-based automaker seemed unhappy with May and June’s performance and decided to boost their premium lineup deliveries.

Tesla sold 77,695 China-made vehicles in May. 42,805 were sold domestically in China, while 35,187 were exported. Model S and X are not included in those numbers as Giga Shanghai produces only Model 3 and Y.

In China, Tesla faces multiple startup EV brands in a premium market segment, mainly Nio, HiPhi, and Hongqi.

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