Tesla cuts Model S and Model X prices by up to USD3k

          Published on May 26th 2019 |      by Paul Fosse    

Cars Published on May 26th 2019 | by Paul Fosse 0

Tesla Inc is considering pricing its China-manufactured Model 3 vehicles between 300,000 yuan and 350,000 yuan ($43,431-$50,670) before subsidies, Bloomberg reported on Tuesday, citing people familiar with the matter.

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Though it already sells Model 3 vehicles locally, Tesla now ships all of them from the USA, disqualifying the vehicles from Chinese government subsidies and subjecting the cars to import tariffs. An earlier round of price cuts in January of US$2,000 per vehicle came as part of an acknowledgement that the looming expiry of a US$7,500 tax credit for Tesla EVs would hurt sales, with the federal tax credit for Teslas set to be phased out by the end of this year after a reduction previously. Now all Tesla cars sold in China are made in the United States and then shipped to China, which adds logistics costs, import tariffs, and the risk of additional tariffs if the trade war further escalates.

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The electric vehicle manufacturer reduced the starting price of the Model S by a cool $3000 and the Model X by $2000.

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Tesla has started the construction of a production facility in the world's top EV market in order to be able to compete on a level playing field with a growing number of local EV manufacturers. As a US -made vehicle, Tesla's cars in China have been subject to steep tariffs, and sales have suffered from the U.S.

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