Tesla Model 3/Y Price in China Reaches an All-time Low

Tesla recently announced on its official website that it would lower prices for all domestic models of Model 3 and Model Y. The starting price of Model 3 will be lowered by 36,000 yuan (RMB), and the starting price of Model Y will be lowered by 29,000 yuan. The price cuts for the remaining versions of the two models range from 20,000 yuan to 48,000 yuan, which is Tesla's lowest price in China so far.

Moreover, Tesla's Model 3 and Model Y is selling at the world's lowest prices on the Chinese mainland. According to data from the price tracking website Nukeni, China has the lowest price of both Model 3 and Model Y among 43 markets worldwide; they cost CNY 229,900—about $33,415—and CNY 259,900—about $36,727—respectively.

Tesla Model 3

Here's a look at the starting prices for the Tesla Model 3 (base) in 43 markets around the world:

1. China CN¥229,900.00
2. Macau CN¥265,932.34
3. Norway CN¥279,029.35
4. Japan CN¥281,400.03
5. Iceland CN¥289,170.02
6. Hong Kong CN¥293,932.20
7. Australia CN¥299,558.92
8. Canada CN¥301,586.89
9. New Zealand CN¥305,050.30
10. Puerto Rico CN¥316,205.01
10. United States CN¥316,205.01
11. Estonia CN¥327,867.86
11. Slovakia CN¥327,867.86
11. Latvia CN¥327,867.86
11. Lithuania CN¥327,867.86
12. Switzerland CN¥334,077.25
13. United Arab Emirates CN¥338,915.74
14. South Korea CN¥349,816.58
15. Israel CN¥354,748.23
16. Thailand CN¥358,383.94
17. Germany CN¥364,305.72
18. Romania CN¥371,593.30
19. Netherlands CN¥378,880.87
19. Spain CN¥378,880.87
20. Poland CN¥380,073.08
21. Belgium CN¥386,168.44
21. Greece CN¥386,168.44
21. Ireland CN¥386,168.44
21. Slovenia CN¥386,168.44
22. France CN¥389,812.23
23. Luxembourg CN¥393,456.01
23. Finland CN¥393,456.01
24. Croatia CN¥394,143.28
25. Hungary CN¥396,458.82
26. United Kingdom CN¥398,591.39
27. Portugal CN¥400,743.58
28. Sweden CN¥407,258.30
29. Singapore CN¥407,592.40
30. Mexico CN¥414,467.07
31. Czechia CN¥415,846.76
32. Denmark CN¥416,416.89
33. Austria CN¥418,233.76
34. Italy CN¥418,962.51

Tesla Model Y

Here's a look at the starting prices for the Tesla Model Y in 37 markets around the world:

1. China CN¥259,900.00
2. Macau CN¥288,422.04
3. Japan CN¥303,937.19
4. Latvia CN¥306,005.15
4. Estonia CN¥306,005.15
4. Slovakia CN¥306,005.15
4. Lithuania CN¥306,005.15
5. Hong Kong CN¥316,244.17
6. Australia CN¥322,998.58
7. New Zealand CN¥326,563.01
8. Norway CN¥353,892.71
9. Iceland CN¥358,510.08
10. Portugal CN¥364,305.72
10. Italy CN¥364,305.72
10. Belgium CN¥364,305.72
10. Luxembourg CN¥364,305.72
10. Netherlands CN¥364,305.72
10. France CN¥364,305.72
11. Spain CN¥373,123.69
12. Ireland CN¥386,168.44
13. Greece CN¥393,456.01
13. Germany CN¥393,456.01
14. Thailand CN¥399,132.54
15. Switzerland CN¥399,454.40
16. United Arab Emirates CN¥403,038.40
17. Romania CN¥408,031.16
17. Slovenia CN¥408,031.16
18. Austria CN¥418,233.76
19. Poland CN¥426,614.54
20. United Kingdom CN¥427,361.65
21. Croatia CN¥437,146.62
22. Finland CN¥437,181.44
23. Denmark CN¥440,906.81
24. Sweden CN¥446,045.42
25. Hungary CN¥447,613.17
26. Czechia CN¥455,306.96
27. Singapore CN¥468,738.91

The prices listed above were converted using January 16, 2023 exchange rate. (Source: www.nukeni.com/en/tesla/electric-car/model3)

With the new lower price of the Model 3/Y, many Chinese consumers are purchasing these electric vehicles, but at the same time, some old car owners are criticizing the move.

In terms of the delivery cycle, Tesla's Shanghai Gigafactory recently shut down some production lines for annual maintenance work. Still, it did not affect the company's ability to deliver new cars; the expected delivery cycle for Model 3 and Model Y is 2 to 4 weeks.