Tesla slashes model 3 prices in China

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Tesla slashes model 3 prices in China

Amid growing competition from Volkswagen, Excelle and Nissan, apart from the tariff hike resulted by US-china trade war, the Tesla Inc. had again decided to slash the prices of some of its electric car models and this time, it was model 3 electric cars.

A post from the California based electric carmaker’s Chinese website revealed that, the prices of certain models of Tesla Model 3 cars would be cut by up to 7.6 percent, while the starting price of a Model 3 car in China would be $72,000.

In fact, it is the third time, in the last two months, when Tesla adjusted their prices for Chinese market, as November experienced a marked price cut of Tesla’s model X and model s cars. In the wake of an upcoming battle in the electric car industry and the tariff hike imposed by US government, the company cut the prices of Model S and Model X cars by 26 and 12 percent subsequently and while announcing the price cut, the company had been quoted saying that they had been absorbing a significant part of the tariff to make the cars affordable for the Chinese customers.

Earlier this month, Tesla again cut prices of its Model X and Model S, when Chinese Finance minister suspended the additional tariffs (25 percent) on US made vehicles for three months starting from January.