Elon Musk’s Tesla Drops After Model 3, Y Price Cuts In China

  • A Model 3 sedan in China now starts at 265,900 Chinese Yuan ($38,695), down from 279,900 yuan. Meanwhile, the Model Y sport utility vehicle now starts at 288,900 Yuan ($39,939), down from the previous starting price of 316,900 yuan.
  • In March, Tesla CEO Elon Musk tweeted that the electric vehicle maker and his aerospace company SpaceX were experiencing “significant” inflationary pressure in raw materials and logistics.
  • Since then, Tesla has raised its car prices, citing inflation and global supply chain challenges.