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Tesla Unleashes New Prices in China and Japan - Check Out the Reduced Starting Prices!

We have news that Tesla has cut prices in China and Japan by about 10%. Here's the exact details.

Tesla's Price Cuts in China and Japan

Tesla has cut prices in many countries around the world to reflect a slowing economy and the need to keep demand high. I expect these prices cuts to last as long as the current economic recession. These price drops are the biggest we have ever seen from Tesla. It's possible the U.S. will also have some price decreases at some point.

In China:

* Model 3 RWD: Now $33,023, an 11.7% drop
* Model 3 Performance: Now $48,014, a 5.7% drop
* Model Y Standard: Now $37,826, a 10% drop
* Model Y Long Range: Now $45,103, a 13.4% drop
* Model Y Performance: Now $52,381, a 9.5% drop

In Australia:

* Model 3 RWD: Now $63,900, a 2.4% drop
* Model 3 Long Range: Now $76,900, a 3.9% drop
* Model 3 Performance: Now $89,900, a 1.9% drop
* Model Y Standard: Now $68,900, a 2.4% drop
* Model Y Performance: Now $94,900, a 2.4% drop

In South Korea:

* Model Y Long Range: Now $66,890, a 12.1% drop
* Model Y Performance: Now $74,549, a 9.5% drop

Exepct to see more of these announcements throughout this year if the economic environment does not improve.

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Will There Be More Price Cuts?

Tesla has also officially announced the pricing for the Model S and Model X in China. These are Tesla's premium vehicles, with expected delivery in Q2, 2023:

* Model S Long Range: $115,000
* Model S Plaid: $147,000
* Model X Long Range: $128,000
* Model X Plaid: $151,000

Note, these prices are higher than in the U.S. which is an interesting contrast to the lower end vehicles that are now much lower in China than in the U.S.

I think there will be more price cuts, but probably not much more in China and around the world. I think the next price cuts are going to come to the U.S., but it will only be as the average vehicle price starts to come down.

Tesla is likely lowering its price in China in order to sell more vehicles as BYD is selling quite a large number of vehicles. Because Tesla does not have its compact vehicle yet, it is greatly reduced the cost of the Model 3 RWD with LFP batteries.

What do you think of these price cuts? Is Tesla going to keep lowering prices?

In Related News: Tesla Model Y to Lead European Car Market

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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.

Image Credit, Tesla, Screenshot