Tesla cut prices on major volume models (high-volume models) sold in Korea. The move is seen as an attempt to keep improving sales by lowering prices on popular models ahead of rival companies' new electric vehicle launches next year.
According to the finished car industry on the 31st, Tesla Korea posted reduced prices for the Model 3, a midsize sedan, and the Model Y, a midsize sport utility vehicle (SUV), on its website starting that day.
The Model 3 Performance AWD model was cut by 9.4 million won, from 69.39 million won to 59.99 million won. The Model Y Premium Long Range AWD model was reduced by 3.15 million won to 59.99 million won from 63.14 million won, and the Model Y Premium RWD model was lowered by 3 million won to 49.99 million won, with prices adjusted respectively.
After launching Juniper, a facelifted version of the Model Y, in April, Tesla's sales in the domestic imported car market improved noticeably. Cumulative sales from January through Nov. were 55,594 units, nearly double the level of the same period last year. That ranks third after BMW (70,541) and Mercedes-Benz (60,260).
On top of that, since Nov., the application of FSD (Full Self-Driving), a full self-driving feature, to the Model X, a midsize-large SUV, and the Model S, a midsize-large sedan, has further accelerated the rise in sales. In the imported car industry, there is even a view that with this price cut, Tesla could surpass the sales of BMW and Mercedes-Benz in the future.