Tesla cuts prices in Malaysia up to RM8k

KUALA LUMPUR:  In response to slower sales, Tesla has recently lowered prices by USD 2,000 across all models in China and the United States. Similarly, Tesla has now officially reduced prices by RM 8,000 in Malaysia, with the exception of the 2024 Model 3 Performance, which retains its introductory price of RM242,400.

The revised pricing structure starts with the Model 3 'Highland' series, where the base Model 3 RWD now starts at RM181,000, down from its original price of RM189,000. The Model 3 Long Range AWD has seen a reduction to RM210,000 from RM218,000. At its launch, the 2024 Model 3 Performance was introduced at RM242,000.

In the Model Y series, the entry-level RWD version now begins at RM191,000, a drop from RM199,000. The Model Y Long Range AWD is now available for RM238,000, previously RM246,000. The Model Y Performance has been adjusted to start at RM280,000, down from RM288,000.

Tesla recently lowered the price of its 'Full Self-Driving' autopilot software in the US from $12,000 to $8,000. In Malaysia, according to their website, the FSD package is available for RM32,000.

This month, Tesla reported that its global vehicle deliveries in the first quarter declined for the first time in nearly four years, following price cuts that failed to boost demand.

The EV manufacturer has been slow to refresh its older models as high interest rates have dampened consumer appetite for high-value items. Additionally, competitors in China, which is also the world's largest car market, have been introducing more affordable models.

In Malaysia, Chinese electric vehicle (EV) manufacturers have consistently positioned their pricing below that of Tesla, mirroring a global trend where Chinese EVs are increasingly competitive against Tesla in terms of cost. This strategic pricing is part of a broader effort by Chinese automakers to capture significant market share in international markets by offering more affordable alternatives without compromising on technology and quality.

As a result, consumers in Malaysia now have access to a wider range of cost-effective electric vehicles, making the adoption of EV technology more accessible to a broader audience.

The Tesla Cybertruck, initially seen as a potential boost to Tesla's sales, has also faced challenges that could impact its market performance. Recently, the futuristic truck has been marred by negative publicity, which likely influenced its potential sales. Additionally, a recall was issued for the Cybertruck to address a "stuck pedal" problem. Tesla has temporarily suspended sales of the vehicle due to an issue where a pad on top of the accelerator pedal could become detached and get caught in the interior trim, leading to unintended acceleration. This safety concern was confirmed in a Tesla report to the National Highway Traffic Safety Administration.

To resolve this, Tesla’s service department is set to either replace or repair the accelerator pedal assembly at no cost to owners.

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