Tesla Model 3

The last time a Tesla model's delivery wait time in China was reduced to as low as 1 week was on December 26, 2022.

Formal sales of the updated Model 3 Performance in China is priced at the same RMB 335,900 ($46,380) as when pre-sales began at the end of April, but the delivery date has been moved up.

The two motors of the updated Model 3 Performance have a power of 137 kW and 265 kW, and the supplier of the battery cells is South Korea's LG Energy Solution.

Tesla had launched a 0 down payment option in November 2021, but canceled it after just 3 days due to a surge in orders.

Deliveries of the updated Model 3 Performance, the sedan's most powerful variant, in China will begin in the third quarter.

Chinese customers who take delivery of already-produced vehicles of the Model 3 and Model Y by the end of March can get benefits including an insurance subsidy of RMB 8,000.

In addition to offering cash discounts on select Model Y stock vehicles, Tesla is also allowing customers to get paid paint for RMB 2,000 that would otherwise sell for RMB 8,000 or RMB 12,000.

The new Tesla Model 3 Performance is expected to go on sale in China in the second quarter, and its price tag will likely be close to RMB 400,000 yuan, according to local media.

Tesla today lowered the prices of all two versions of the Model 3 by nearly 6 percent, and two of the three versions of the Model Y by nearly 3 percent.

For the full year 2023, Model Y retail sales in China were up 44.74 percent year-on-year to 456,394 units, while Model 3 sales were up 18.33 percent year-on-year to 147,270 units.