On May 9, it was reported that the upgraded version of Tesla Model 3 will begin mass production in Shanghai on June 1 of this year. Several photos of the new Model 3 were also leaked at the same time. However, Tesla China denied the authenticity of this news to Chinese media outlet Yicai.
Leaked photos of the suspected new Tesla Model 3 show that the front of the car has undergone some significant changes, with a completely new design for the headlights. The bottom of the light cavity features an L-shaped light strip. However, the authenticity of these photos remains to be verified.
The Model 3, which is currently on sale, was launched in 2017 and has been available for six years. In early 2022, Tesla announced that it will launch a brand new version of the Model 3, which inherits the design of its predecessor but features significant upgrades to interior configuration and power systems. However, as of now, the new Model 3 has not yet been released for global sales.
Analysts believe that the price fluctuations of Tesla since last quarter reflect its order pressure. According to a US institution’s statistics, Tesla had over 400,000 global orders in its best month last year, while the lowest month from the end of last year until now only had 70,000 orders.
Since October 2022, Tesla has successively lowered its product prices in China, despite the fact that power battery prices have not seen a significant decline. On January 6 of this year, Tesla announced a large price reduction for all models in China, with reductions ranging from 6% to 13.5%. Among them, the Model Y Long Range version had the largest price reduction, with a one-time decrease of 48,000 yuan ($6,933) and several other models also reaching their lowest historical prices. As an iconic car company, Tesla’s price cuts have triggered follow-up actions by various mainland automakers and sparked a price war in the Chinese market.
On May 2 and May 5 this year, Tesla China raised the prices of Model 3, Model Y, Model S, and Model X by 2,000 yuan and 19,000 yuan respectively. Although the price increase is not as significant as the previous price cuts, it still indicates a temporary ceasefire in the hidden price war and eases pressure on other new energy vehicle companies.