Tesla has recently announced a price cut for its Model 3 Long Range Rear-Wheel Drive (RWD) variant in China, just weeks after the model’s debut. The Model 3+ variant, which boasts an impressive CLTC range of 830 km, now starts at RMB 259,500 ($36,390) after a reduction of RMB 10,000 ($1,400 USD). This move aims to make the electric vehicle more accessible to Chinese consumers.
Interestingly, the base RWD model remains priced at RMB 235,500 ($33,000), while the Long Range AWD and Performance AWD variants start at RMB 285,500 ($40,000) and RMB 339,500 ($47,600) respectively. Deliveries for the new Model 3+ are estimated to take 1-3 weeks, with the Performance trim facing a slightly longer wait time of 3-5 weeks.
In addition to the price reduction, Tesla is offering attractive incentives to potential buyers in September. These incentives include five-year zero-interest financing and an RMB 8,000 ($1,100 USD) insurance subsidy. By sweetening the deal for consumers, Tesla hopes to maintain its momentum in the competitive Chinese electric vehicle market.
Furthermore, Tesla recently made a significant decision to bring back the turn signal stalk for new Model 3 orders in China, reversing their previous stance on going stalkless. Existing owners are also being offered retrofits to accommodate this change.
Despite the Model 3’s impressive range and features, Tesla has faced challenges in the Chinese market in recent months. In July, Model 3 retail sales in China saw a slight decline year-over-year, with a significant drop from the previous month. However, exports of the sedan experienced a notable increase of 228% month-on-month in July.
With the latest price reduction and incentives, Tesla is strategically positioning itself to boost demand for the new Model 3 Long Range RWD while staying competitive in the rapidly growing Chinese EV market. This move demonstrates Tesla’s commitment to innovation and customer satisfaction in the dynamic world of electric vehicles.