Tesla Model 3 prices slashed in China

Tesla Model 3 prices slashed in China

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Certain Model 3 cars prices were cut by up to 7.6 percent

As seen on the California-based electric carmaker Tesla’s Chinese website, prices of certain Model 3 cars were cut by up to 7.6 percent. Now, the starting price for a Model 3 in China is 499,000 Yuan ($72,000).

Third price cut of the year

Commenting on the price cut, Tesla said that it was absorbing a significant part of the tariff to help make cars more affordable for customers in China.

This was the third time that Tesla has adjusted its prices in China. In November, the company cut the prices of its Model X and Model S cars by 12 to 26 percent after China’s finance ministry said it would suspend additional tariffs on US-made vehicles and auto parts for three months from January, further lowering the cost of importing US-produced Tesla cars into China for sale.

Earlier, Tesla Motors said that it will begin European deliveries of its long-awaited mass-market Model 3 electric car from February.According to a spokesperson, the first to take delivery would be customers who had reserved their Model 3 starting March 2016 and if they confirm their order by January 1.The spokesperson added that customers would be invited to confirm over the coming weeks, starting Wednesday.

The best-selling Model 3

The Tesla Model 3 is a mid-sized, compact executive, luxury all-electric four-door sedan manufactured and sold by Tesla, Inc. Following crash testing it received five-stars in every category from the National Highway Traffic Safety Administration

In October,Tesla’sCo-founder and CEO, Elon Musk  described the Model 3 as the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume. Today, Elon is overseeing all product design, engineering and manufacturing of the company’s electric vehicles, battery products, and Solar Roofs.

Tesla was founded in 2003 by a group of engineers.All Tesla vehicles are produced at its factory in Fremont, California, where the vast majority of the vehicle’s parts are also made. Today,it builds all-electric vehicles and infinitely scalable clean energy generation and storage products.

BusinessApac

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