Just yesterday, Tesla USA announced a $2000 price reduction for all Model Y models, and the Tesla China market immediately followed suit.
Today, Tesla China announced a price reduction for all models of Model Y, Model S, and Model X currently on sale in the Chinese market. This measure marks Tesla China's adjustment of its price increase strategy and also signifies its official entry into the domestic new energy vehicle price reduction war to respond to market changes and consumer demand.
The news of Tesla's price reduction once surged on the hot search!
Tesla China's full range of vehicle models are being reduced in price
According to official news, the latest selling price of Tesla China Model Y has dropped to 249900 yuan, the Long Range Edition has dropped to 290900 yuan, and the High Performance Edition has dropped to 354900 yuan. The selling price of Tesla China Model S has dropped to 684900 RMB, and the selling price of Model S PLAID version has dropped to 814900 RMB. The selling price of Tesla China Model X has dropped to 724900 RMB, and the selling price of Model X PLAID version has dropped to 824900 RMB.
The day before, Tesla China's official website showed that the price of Tesla Model Y was 263900 yuan, the price of Model Y Long Range Edition was 304900 yuan, and the price of Model Y High Performance Edition was 368900 yuan.
The Securities Times reporter also learned from Tesla sales personnel in Shenzhen that when picking up a car in the Shenzhen area, there is a free 5000km supercharging, and the addition of starry gray is free. The Model Y also enjoys interest free. It is reported that the price reduction of Tesla China Model Y is particularly significant, which makes this popular model more competitive in terms of cost-effectiveness. As a mid size SUV of Tesla, Model Y has always been favored by consumers due to its fashionable exterior design, excellent performance, and advanced autonomous driving technology.
The salesperson mentioned above told reporters that the price of the Model Y rear wheel drive is 249900 yuan, and the fastest time a car can be purchased in Shenzhen is within a week. For other models, it depends on whether there is inventory in the current car list. If there is, the pick-up time will also be relatively fast. And now you can enjoy interest free car purchases.
Industry insiders analyze that Tesla's price reduction this time is not only to increase sales, but also a positive response to market changes. With the increasing maturity of the global new energy vehicle market, consumers have increasingly higher requirements for price, performance, range, and other aspects. Tesla's price reduction not only attracts more potential consumers, but also consolidates its leading position in the Chinese market.
New energy vehicles are causing a wave of price reductions
With the increasing prosperity of the new energy vehicle market, competition is also becoming increasingly fierce. Since the beginning of this year, "price reduction" has become the keyword for domestic new energy vehicles, aiming to attract more consumers and seize market share.
The first to bear the brunt is the leading domestic brand of new energy vehicles, BYD. BYD was the first to initiate a price reduction trend at the beginning of the year. The price reduction of popular models such as the Qin PLUS DM-i led the entire industry's price reduction trend. This strategy not only gives BYD's models a more cost-effective advantage, but also stimulates other brands to follow up on price reductions. Following closely behind are well-known brands such as NIO, Ideal, and Xiaopeng. These brands have also announced price reduction measures for multiple models.
On April 20th, Xiaopeng Motors announced that from now until May 5th, 2024, it will launch a limited time purchase subsidy of 500 million yuan, covering four models of Xiaopeng G9, G6, P7i, and the 2024 Xiaopeng P5. This also means a disguised price reduction. On April 19th, according to official news from GAC Aion, its Aion V Plus models will be officially reduced by 10000 yuan across the entire range, with a new guide price adjustment of 149900 yuan. This is the third model of Aion to announce a price reduction within 4 days, following the price reduction of Aion Y Plus and Aion S MAX.
The formation of this wave of price reductions is driven by multiple factors. Firstly, with the continuous maturity of new energy vehicle technology and the expansion of production scale, manufacturing costs have decreased, providing space for price reduction. Secondly, the intensification of market competition has also prompted major brands to adopt price reduction strategies to compete for market share. Finally, the government's subsidy policy for new energy vehicles has also to some extent promoted the formation of a wave of price reductions.
Multiple brands accelerating their overseas expansion
Faced with fierce domestic competition, more manufacturers have set their sights on overseas markets, and going abroad is also a unanimous choice for new energy vehicle manufacturers. According to data from the China Association of Automobile Manufacturers, in the first quarter of 2024, China exported 307000 new energy vehicles, a year-on-year increase of 23.8%. New energy vehicles have accelerated the pace of going global.
Domestic giants such as BYD, Geely, Chery, and Changan have elevated exports to a core strategic position. On April 16th, Lantu officially launched its brand at the Palace of Selbeloni in Italy. From April 16th to April 21st, the atrium of the Palace of Selbeloni became a special "exhibition hall" for Lantu. The Lantu brand exhibition, which lasted for 7 days and 7 nights, officially kicked off here. Since going to sea in 2022, Landau has entered Norway, Finland, Denmark, the Netherlands, the Czech Republic, etc. In the future, Landau will also enter Europe's deep markets such as Slovakia, Germany, Spain, Portugal, and jointly build the "the Belt and Road" countries, leading the new era of Chinese brands going to sea.
Xiaopeng Motors recently announced that nearly a thousand units of Xiaopeng G9 have been shipped to Germany, marking the largest single overseas shipment in Xiaopeng Motors' history. It is reported that the total export value exceeded 500 million yuan, ranking first in the single ship export value of China's high-end intelligent driving pure electric vehicles. The Middle East is also an important target market for Xiaopeng Motors, and it is expected that from the second quarter of this year, Xiaopeng will lead its four models to be launched and delivered in five countries in the Middle East and Africa.
Regarding investor analysis in the field of new energy, 2024 will be a year of more opportunities than challenges for new energy vehicles to go global. Based on the advantages of low price and production capacity, the rapid establishment of self owned production and sales channels is the guarantee, and technological advantages and innovation are the reputation. Chinese new energy vehicle manufacturers can iterate their products according to the user needs of different markets, and make differentiated layouts to share the dividends in the face of historical opportunities to go global.
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