Tesla has cut the price of its recently introduced long-range rear-wheel drive (RWD) Model 3 in China.
The update was implemented by the electric vehicle maker just weeks after the variant’s introduction.
Tesla China’s Model 3 lineup
The Model 3 RWD Long Range, which carries a CLTC range of 830 kilometers, is now priced from RMB 259,500 ($36,390), down RMB 10,000 ($1,400) from its initial RMB 269,500 ($37,800) price. Deliveries for the updated variant are currently listed at 1-3 weeks for new orders.
Tesla introduced the long-range RWD Model 3 in China on August 12, positioning it as a longer range alternative to the entry-level Model 3 RWD, which is priced at RMB 235,500 ($33,000). Despite the recent update to the price of the Model 3 RWD Long Range, the cost for the other three Model 3 trims remains unchanged.
Delivery times for the base Model 3 RWD and Model 3 Dual Motor AWD are listed at 1–3 weeks across the range, while the Model 3 Performance is listed at 3–5 weeks.
Sales momentum and exports
Tesla continues to offer purchase incentives this month, including five-year zero-interest financing and an RMB 8,000 insurance subsidy, as noted in a CNEV Post report.
Model 3 sales in China reached 9,851 units in July, down 0.78% year-on-year and 40.8% month-over-month compared to June. Still, cumulative sales for the Model 3 between January and July totaled 101,770 units, reflecting a 26.5% year-on-year increase in sales.
Exports of the Model 3 stood at 12,197 units in July, down 46.5% year-on-year but surging 228.8% from June. For the first seven months of 2024, Model 3 exports totaled 70,718 units, a 42% decline.