Peter Lyon
April 26, 2024
The global movement of Tesla lowering its prices in response to greater competition, amongst other factors, has finally made it to here with Tesla Malaysia reducing the cost of the popular Model 3 and Model Y. The Model 3’s new starting price of RM181,000 and the Model Y’s RM191,000 reflect these price reductions.
Prices for different specs of the Model 3 and Model Y have also been revised, with the new prices for the Model 3 RWD at RM181,000 (was RM189,000), Model 3 Long Range AWD coming in at RM210,000 (was RM218,000), and the Model 3 Performance AWD at RM242,000 (unchanged).
Meanwhile, the new reduced prices for the Tesla Model Y are range from RM191,000 for the Model Y RWD (was RM199,000), RM238,000 for the Model Y Long Range AWD (was RM246,000), where as the Model Y Performance AWD slots in at RM280,000 (was RM288,000).
The Tesla models’ costs have been lowered by RM8k, although no official modifications to the specifications have been mentioned.
The specs for sale stay the same with three options to choose from for both the Model 3 and Model Y with each getting options of rear-wheel drive (RWD), Long Range (LR) all-wheel drive (AWD), and the Performance AWD.
When it debuted in the middle of 2023, the Model Y was the first Tesla model to be introduced in Malaysia. After a redesign, the Model 3 was released in October 2023. Strangely though, delivery of the Model 3 happened before that of the Model Y, despite its later debut.
In Malaysia, the BYD Seal and the Ora 07 have emerged as new competitors for the Model 3 since its launch. And we can expect at least a dozen more rivals to arrive on the market over the next two years. Each of these Chinese EVs is reasonably priced under RM200,000.
CARLIST THOUGHTS
Tesla’s move to reduce prices will force rival EV makers to seriously consider their bottom line. The question remains—Will BYD and the other EV makers follow Tesla’s price-dropping lead, and start a true price war? On time will tell.
