After Tesla lowered the prices of Model 3 and Model Y in Asian markets such as China and Japan last week, it has recently lowered prices in the US and European markets by as much as 20%. However, there is no news of Tesla’s price reduction in Hong Kong.
According to a Reuters report, the price reduction of Tesla in the United States will be implemented before the introduction of the “electric vehicle purchase tax credit” capped at US$7,500 (about HK$58,000). In addition to the US, Tesla prices also fell in Germany, Austria, Switzerland and France.
The price of the standard version of Model 3 in Germany, the United States and China has been reduced by 12%, 6% and 14% respectively; Long Range Only 9% off in Germany; while the Performance was off 4%, 14% and 6% respectively.
In addition, the standard version of Model Y is reduced by 17% and 10% in Germany and China, while the price of Long Range is reduced by 4%, 20% and 13% in Germany, the United States and China respectively; the price of Performance is reduced by 1% and 19% respectively and 10%.
Tesla price reductions by country
Tesla Chief Executive Elon Musk said in December last year that a severe economic recession is expected in the future, and the public’s demand for big-ticket items may weaken. Wall Street analysts also pointed out that Tesla’s vehicle deliveries in the fourth quarter did not meet expectations, which was disappointing.
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