As Tesla launched the entry-level Model Y Standard Range, the EV market in China is shifting to make the Tesla car their base model. Previously, the Chinese motoring group 42HOW had Ford Mustang Mach-E as their group name on Weibo, which is now changed to Tesla Model Y. The change happened as soon as the Tesla Model Y standard range was announced.
The group members in 42HOW were looking forward to Mach-E until the change but shifted their orders to Model Y Standard Range Plus. A whole group changed their orders, and so did many other customers in China.
Exodus to Model Y SR RWD is happening? According to @42how_ , a Weichat group of Mach-E reservation holders wasted no time changing its profile name to Model Y upon intro of the SR RWD variant yesterday. The whole group switched their Mach-E reservations to MY. That was so easy😂 https://t.co/1OnvSw35nX pic.twitter.com/WJnXYJdXTm
— Ray4Tesla⚡️🚘☀️🔋 (@ray4tesla) July 8, 2021
The Standard Range is an entry-level, single-motor RWD Model Y. Tesla being a fully electric vehicle, has been the best vehicle because the crossovers fanbase in China is huge. However, with this Standard Range launch, Tesla is setting records in the EV market. China is the largest EV market in the world, has tough competition within the country. The Tesla Model 3 is manufactured locally with more than 90% of parts coming locally, is still not the best EV in the country.
Overall, the vehicle can be purchased at RMB276,000, which is about $42,000. But with Model Y Standard Range, the price is too attractive, which starts at RMB291,840 incentives. And the purchase subsidy at RMB15,840.
As the Model Y was already popular in China, the groundbreaking change in preferences was more favorable as Standard Range variants are coming. Regardless, it is too early to say that the numbers will remain. Interestingly the Standard Range variant of Model Y was removed from the US website in February this year, as the CEO felt that the range was not good enough. It started at $41,990 in the US, which is similar to the price in China now.
As mentioned earlier, the base version starts at RMB276,000. With 525 range (326 miles) and speed 0-100 km/h (62 mph) in 5.6 seconds. Its price is only 10% higher than Model 3.
The other models include Tesla Model Y long-range at RMB347,900 and the Tesla Model Y performance at RMB377,900. While the long-range has a range of 594KM, the Performance has a speed with a range of 480KM. Comparing with all the variants, the Standard Range is slower with medium range and cheapest. Ideal for regular users who commute within the city. This is possibly why the Long Range version disappeared due to a 26% increase in cost for a 13% increase in range. Though technically, the numbers are good, it was tough for the Long Range to stay in the competition.