Tesla cuts prices in Japan for Model 3 and Y

Reuters | July 5, 2023

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TOKYO (Reuters) – Tesla Inc cut prices in Japan of its Model 3 and Y electric vehicles by low single-digit percentages from the start of this month, it said on Tuesday.

The company slashed prices for all variants of its lower-priced Model 3 by about 3%, its website showed, while reducing those of all Model Y variants by around 4%.

The Model 3’s price reduction made it more affordable in Japan than it ever was before when using various subsidies with the purchase, Tesla said.

The price reductions come about two months after the company last put a higher price tag on the Model 3 and Y in Japan.

Model 3 is now priced at 5,245,600 yen ($36,362) in Japan, while Model Y is priced at 5,637,000 yen.

The prices for the long-range and performance variants of both models are slightly higher.

Tesla kept unchanged the prices of Model S and X, higher-priced EVs for which it had started accepting orders in Japan in May.

 

(This story has been corrected to say ‘on Tuesday’ instead of ‘on Wednesday’ in paragraph 1)

 

($1 = 144.2600 yen)

 

(Reporting by Daniel Leussink, Editing by Louise Heavens)