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Lower-priced Model Y reportedly gets over 10,000 orders on first day of launch in China

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Every price cut from Tesla has invariably resulted in a huge number of orders.

The first day of the Model Y standard range version’s launch saw more than 10,000 orders, and the second day more than 5,000, local media lanjinger.com quoted a Tesla salesperson in Beijing as saying on Monday.

The third day’s figures are not yet available, but they are certainly not bad, the salesperson said, adding that customers are now largely opting for the newly launched Model Y standard range version.

On July 8, Tesla China’s official website launched the lower-priced Model Y standard range version, accepting reservations from then on, with deliveries expected to start in August.

The starting price of the model is RMB 276,000 ($42,650) after subsidies, which is more than RMB 70,000 lower than the previous lowest-priced model at RMB 347,900 which was not eligible for China’s state subsidy because it was priced above RMB 300,000.

Consumers who order the model now will not be able to get delivery until the end of August at the earliest, the salesperson said, adding that if they order the car ten minutes later, the waiting time could also be about a week longer.

This confirms other media reports. According to Securities Daily on Monday, the Model Y standard range version has received a large number of orders in China, and those who order now won’t get deliveries until September at the earliest.

The production line at Tesla’s Shanghai Gigafactory will go into production at full capacity to ensure availability, the report said, citing a staff member at the Tesla Experience Center.

The Model Y show cars will be sent to each Tesla store in the near future. “The new car scheduling orders have been delayed until September, and the number of people coming to the stores in recent days will be very high, so consumers are advised to stagger their visits,” the report quoted a Tesla insider as saying.

Compared to the RMB 347,900 price of the long-range version of the Model Y on sale, the standard range version uses lithium iron phosphate batteries to give a range that is only 69 kilometers less, but the price drop is more than RMB 70,000, the report said.

The standard range version of the Model Y accelerates from 0-100 km/h in 5.6 seconds, 0.6 seconds more than the long range version.

The lanjinger.com report said Tesla chose this time to launch the standard range version of the Model Y for order volume and sales. After April, negative news about the company grew and sales were unable to achieve continuous positive monthly growth, according to the report.

CPCA data shows that Model Y has sold a cumulative 35,000 units in China since its delivery in January this year and surpassed Model 3 as the company’s most popular model in May. In June, the sales of Model 3 surpassed that of Model Y.


This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.

SourceCnEVPost
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CnEVPost is a website focused on the coverage of the new energy vehicle industry in China. As with our original intent for CnTechPost, there are a lot of interesting things happening in the Chinese EV industry every day, but they are not covered by the mainstream English language media. We're here to keep track of what's happening in the Chinese EV industry and strive to be the first to publish what we see in English.