05 Mar Tesla China reduces Model 3/S/X prices up to $50k+, faces anger by existing customers
Mar 05, 2019 | by Iqtidar Ali
Tesla China has reduced the prices of the entire vehicle line i.e. Model 3, S, and X from $1.6k to $50k+ USD (full table below) — the net effect is existing customers are angry and the new customers are more than happy, getting a $50,000 discount isn’t a small deal.
Even on the Tesla Model 3 Performance and LR AWD the price reduction is an attractive $6,557 (converted to USD from ¥ Rembibi as of Mar 1st) — the top variant of the Tesla Model X sheds a staggering $50,835, which sounds insane but is true.
Tesla is reducing pricing and introducing affordable electric vehicle options like the $35k Model 3 in North America recently but the amount of price reductions in China is overwhelming for existing customers that recently bought their cars for a significantly higher price.
To make Tesla Model 3 more affordable in China, Tesla also brought the long-range RWD Model 3 for Chinese customers after the initial launch of higher-end costly variants in an effort to reach an affordable price point.
Table: Price Reduction for Tesla Vehicles in China (Mar, 2019)
|Model / Variant||Previous Price (USD)||New Price (USD)||Total Reduction (USD)|
|Model 3 Performance||$83,457||$76,900||$6,557|
|Model 3 LR AWD||$74,366||$67,809||$6,557|
|Model 3 LR RWD||$64,530||$60,656||$3,874|
|Model S 75D||$110,625||$108,942||$1,638|
|Model S 100D||$126,593||$114,456||$12,161|
|Model S P100D||$162,593||$121,267||$41,326|
|Model X 100D||$141,952||$115,976||$25,976|
|Model X P100D||$177,243||$126,408||$50,835|
The price reduction table information, currency exchange, and calculations were done by Vincent Yu who is an active member of the Tesla community and frequently earns retweets by none other than the Tesla CEO Elon Musk himself, he tweeted the following:
The insane price decrease has sparked anger and discomfort to the existing Tesla customers, especially the ones who purchased higher-end Model S and Model X EVs, many customers are literally protesting in front of Tesla stores demanding a piece of the pie.
The Tesla and EV community has two different opinions on this situation, one believes the customers should be reimbursed somehow and the other group says these customers paid the price for Tesla’s sustainability mission and should support the company.
We can see a few owners outside the Tesla Store in China, where they even affixed a banner on the Tesla Showroom’s glass which according to E for Electric says, ‘don’t buy these cars, they will be cheaper tomorrow’.
Chinese Tesla news source @ShanghaiJayin reported the following photos of the protest and says:
Meanwhile in China, Tesla Owners Protesting in front of Tesla Store in China. They are angry about the price adjustments in China. It has become hot topic on chinese social media.
We have previously seen retaliation from the U.S. customers and apparent Tesla evangelist who threw shade over Tesla and Elon Musk for a mere $5,000 price reduction into one month of ownership, like the following tweet by a known member of the community:
Looking at the above behavior, the reaction of Chinese Tesla owners seems ok, the price reduction in the region is huge, looking at the video below also gives an idea of how popular the Tesla Model X is in China and this is the vehicle which got the biggest price drop.
Yesterday in Taiwan, Tesla owners protested outside the Tesla Service Center/Supercharger Station and blocked the entrance using their vehicles, as we can see most of these protestors are Model X owners.
Luxury ICE cars also get devalued fast, Tesla gets as much hate as much it gets love!
Let us know in the comments section below, how you feel about the whole scenario and if the existing customers should be reimbursed in some way?
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