A Tesla owner from Australia was shocked to learn that the price of their vehicle had dropped by almost $10,000 just two weeks after they placed an order.
Jason C, who made the purchase from the Sunshine Coast, said he was surprised by the price reduction.
According to Iain Curry, a car advice columnist, Tesla’s prices have been fluctuating.
In June 2022, the Model Y RWD went for around $72,300, and it was almost $13,400 cheaper a year later.
The news is not good for you: Yours has basically lost an extra $5k overnight. Even Tesla’s most loyalists won’t be happy, and you’re likely feeling angry.
There have been a lot of EV discounting in Australia, with the Nissan Leaf now costing almost $40,000 drive-away and the Peugeot e-2008 down $25,000.
As Tesla faces increasing competition from Chinese automakers and traditional carmakers, the company’s prices are dropping in the country.
Tesla is known for its electric cars, and the Model Y was the most popular vehicle in the world in 2023.
However, if you look at the entire model range, China’s BYD was able to sell more cars than Tesla last year.
In Australia, the company’s offerings include the Atto 3 compact SUV, the Dolphin hatchback, and the Seal sedan.
Other companies such as Zeekr, Leapmotor, and XPeng are also expected to enter the market soon.
The increasing number of electric cars on the market has resulted in more choice for consumers.
Traditional carmakers have also started copying Tesla’s approach. For instance, Kia is about to launch its new EV5 in Australia.
The car, which is built in China, is designed to help the company compete against the large volumes of electric cars being made by Tesla and other brands.