New Tesla price cuts announced.Check out where Tesla electric cars are the most affordable right now

Tesla Inc cut prices on its electric vehicles in Europe, Israel and Singapore on Friday, extending a global discounting campaign that began in China in January and raising concerns about its industry-leading profit margins. The price reduction details are as follows:

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Updated on:
April 14, 2023 at 15:44 pm

Tesla has sparked a price war in the electric vehicle space in several markets by lowering the price of its electric vehicles. (Reuters)


Tesla cut prices on all versions of its Model 3 and Model Y vehicles in China by between 6.0 percent and 13.5 percent in January, according to Reuters calculations.

However, the automaker raised prices for performance and long-range versions of its Model Y midsize sport utility vehicle (SUV) in China in February.

In the second such price increase, the starting prices of two versions of the Model Y in China have increased by 2,000 yuan, to 311,900 yuan ($44,983.20) and 361,900 yuan, respectively.

The performance version of the Model Y is still 9% cheaper than before the price cut, while the long-range version is 13% cheaper.


Tesla cut the price of its Model 3 and Model Y cars by about 10% each in Japan for the first time since 2021. Prices for the rear-wheel-drive version of the Model 3 are now 5.369 million yen ($39,501.18), down from 5.964 million yen.

South Korea

Tesla’s price cuts vary by model, but range from about 6 million won to 10 million won ($7,702.74), a Tesla sales official in South Korea said.

The base Model 3 rear-wheel-drive car was listed on Tesla’s website for 64.34 million won ($50,637) on Friday. Its Model Y Long Range sports utility vehicle is 84.999 million won.


On April 7, Tesla announced its fifth car price cut this year in the U.S. market, with a drop ranging from 2% to nearly 6%.

Since the start of the year, Tesla has slashed the price of its base Model 3 by 11 percent, including a 20 percent cut for the base Model Y, according to Reuters calculations.


Tesla cut prices on the Model 3 and Model Y by about 1% to nearly 17% in January, depending on configuration.

In April, the company cut the price of the Model 3 by 2,000 euros, or 4.5%, to 41,990 euros ($46,462), according to data on its website.

The automaker also lowered the price of the Model 3 Performance version to 54,990 euros, a discount of 9.8 percent from the previous price.

The price of its Model Y Performance version was cut by 9.2% to 60,990 euros. Model Y rear-wheel-drive and long-range pricing remains the same.


Customers who bought the Model 3 for 44,990 euros ($47,860.36) will now get a further price cut through a 5,000-euro government subsidy. The ceiling for the EV program is EUR 47,000.


Tesla cut prices on its Model 3 and Model Y vehicles by 4.3% to 5% in April.

Tesla cut the price of the Model 3 and Model Y by S$4,000 ($3,020) for the real-wheel-drive version and by S$5,000 for the dual-motor all-wheel-drive version of both models, according to Tesla’s website.


The base rear-wheel-drive Model 3 was priced at 152,990 shekels ($41,953) as of April 14, a 25 percent drop from the first round of global price cuts in January.

First published date: April 14, 2023 at 15:44 PM CST

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