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:

1. Dual-Motor Model S: The starting price has been reduced to RMB 698,900 ($96,190), marking a decrease of RMB 110,000 o 13.6 percent from the previous RMB 808,900 displayed on Tesla’s China website.
2. Tri-Motor Model S Plaid: The starting price now stands at RMB 828,900, reflecting a significant drop of RMB 200,000 o 19.44 percent compared to the previous RMB 1,028,900.
3. Dual-Motor Model X: The new starting price is RMB 738,900, which represents a reduction of RMB 160,000 o 17.80 percent from the previous price of RMB 898,900.
4. Tri-Motor Model X Plaid: The starting price for this variant has been adjusted to RMB 838,900, down by RMB 220,000 o 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. Posteriormente, a partir de mayo 5 to August 31, there were no further alterations to the prices displayed on the website. Sin embargo, Tesla has been actively offering significant discounts on both the Model S and Model X over the past two months.

En julio 1, Tesla announced discounts ranging from RMB 35,000 a 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 a 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 y RMB 836,900 on August 16, respectivamente.

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.