How to deal with the decline in sales? Tesla, Inc. (TSLA.US) has lowered the price of the Chinese Model 3 by 3.7% to 259,500 yuan.

Tesla, Inc. (TSLA.US) China official website showed on Monday that the price of its Model 3 rear-wheel-drive version has been reduced by 3.7%, with the adjusted price being 259,500 yuan (approximately $36,278.99). Regarding this price reduction, Tesla, Inc. stated that customers can still enjoy current sales policies even after the price cut. Customers who have placed orders before the website update but have not received their vehicles will automatically benefit from this price adjustment. This price adjustment is part of the sales strategy adjustment for this model in China. The updated version of this model was released last month, becoming Tesla, Inc.'s Model 3 with the longest range in the Chinese market, with a range of up to 830 km and a starting price of 269,500 yuan. The acceleration time for this model is 5.2 seconds per 100 kilometers, faster than the rear-wheel-drive version (6.1 seconds). According to the Ministry of Industry and Information Technology's announcement on August 7 of the "New Energy Vehicle Models List Eligible for Vehicle Purchase Tax Exemptions (Twentieth batch)," the Tesla, Inc. Model 3 single-motor long-range version has a range of 830/800 km and is equipped with a 78.4 kWh battery. Data from the China Passenger Car Association shows that in the first half of this year, Tesla, Inc.'s wholesale sales (including exports) in China amounted to 364,500 vehicles, a decrease of 14.6% compared to the same period last year; retail sales in the Chinese market were 263,400 vehicles, down 5.4% year-on-year. As the main product for Tesla, Inc. in China, any changes in the prices of the Model 3 series continue to attract market attention, and this price adjustment may be related to the intensifying competition in the new energy vehicle market and cost optimization.