Tesla has cuts prices on the Model S and Model X in China. The price reductions come on the heels of Tesla’s decision to cut prices on the Model Y earlier this week, and offer a new insurance subsidy on the Model 3 in China as well.
According to an update to Tesla’s online configurator, the Model X, previously priced at ¥898,900, now starts at ¥836,900 (C$154,800), a drop of ¥62,000 (C$11,500). Meanwhile the Model S has seen a slightly smaller price drop of ¥54,000 (C$10,000) from ¥808,900 to ¥754,900 (C$139,600).
Tesla also announced the price cuts on their official Weibo channel, where they highlighted some of the benefits of purchasing a Tesla through the referral program. In China those benefits are a ¥7,000 (C$1,300) discount and 90-day trial of Enhance Autopilot (EAP).
The price cuts to Tesla’s lineup in China this week comes after Tesla and 15 other domestic automakers signed an agreement aimed at ending the EV price wars in the country. However that part of the agreement was rescinded soon after it was signed over concerns of price fixing.
In July, Tesla sold 64,285 electric vehicles in China according to data from the China Passenger Car Association (CPCA). This figure represents a 31% decline from the previous month, however it was the automaker’s best ever performance for the first month of the third quarter.
Tesla also cut prices for the Model S and Model X in North America this week…sort of. There is now a Standard Range variant of each of Tesla’s flagship vehicles, which comes with a cheaper price, but also less range due. The new variants don’t however have a smaller battery pack, but instead Tesla has reduced their range through software limitations.