Tesla Drop Model Y Price In China - When Would Be A Good Time To Buy A Tesla?

Tesla has dropped the price of its Model Y Long-Range and Performance in China, effective today, August 14th. According to REUTERS, the price cut indirectly reduced the beginning pricing of both models by 14,000 yuan, which is approximately RM7,800.

The Model Y Long Range's revised starting price in China is now RM191,000, a 4.5% decrease from RM199,000. Similarly, the starting price of the Model Y Performance has been reduced by 3.8% to RM223,000 from RM230,000.

In addition, Tesla has unveiled a plan to provide insurance subsidies in China totaling roughly RM4,470 to incentivize buyers of entry-level, rear-wheel-drive Model 3 models. This discount is now valid through September 30th, most likely to assist clear available inventory ahead of the imminent launch of the new Model 3.

Notably, Tesla CEO Elon Musk has earlier announced more probable global price cuts at the expense of the company's profit margins. This comes as a result of Tesla's price cuts in several areas, including the United States, China, and others, in response to growing competition and economic uncertainty. These measures include increased discounts and incentives for inventory management.

According to data from the China Passenger Car Association (CPCA), Tesla's sales of Chinese-made models fell by 31% in July compared to June. This was the first month-on-month reduction since December of last year.

Having said that, we at CariCarz would pop the question as to when is the best time to buy a Tesla? As a customer, everyone enjoys a good deal, and Tesla's pricing strategy is always praised. However, the same buyer would be dissatisfied if their vehicle's value dropped a few months later as a result of the brand lowering its pricing with no relation to the used car market. Hence, the question: when is a good time to buy a Tesla?