It’s our turn now! Tesla is continuing to cut the price of their EV globally, and Hong Kong is the latest region to receive a price cut for the Model 3 Performance. The Model 3 Long Range, Model Y Performance, and Model Y Long Range are also expected to receive price reductions in Hong Kong by April 15th.
Tesla is planning to reduce the price of the Model 3 Long Range by 11.06%, in addition to the 14.7% price cut for the Model 3 Performance. The Model Y Performance and Model Y Long Range will also see price cuts of 9.03% and 8.7%, respectively. The RWD variants for both the Model 3 and Model Y will remain at their current prices.
Tesla Model 3／Y Price Latest Price Reduction 2023 Overview
Here is the latest price overview with the price cut:
| Full Price (including tax) | 1 For 1 Replacement | Adjustment rate | |
| Tesla Model 3 Long Range | HK$589,485 | HK$411,000 | 11.06% off |
| Tesla Model 3 Performance | HK$630,335 | HK$442,200 | 14.7% off |
| Tesla RWD Model 3 | HK$489,080 | HK$341,200 | |
| Tesla Model Y Long Range | HK$649,685 | HK$436,300 | 8.71% off |
| Tesla Model Y Performance | HK$774,705 | HK$451,200 | 9.03% off |
| Tesla RWD Model Y | HK$544,765 | HK$367,100 |
As of now, the Model 3 Long Range costs HK$411,000 ($52,362.25) in Hong Kong, while the Performance variant costs HK$442,200 ($56,337.20). The RWD Model 3 starts at HK$341,200 ($43,469.59).
The Model Y Long Range currently costs HK$436,300 ($55,585.53), and the Performance variant starts at HK$451,200 ($57,483.82). The RWD Model Y costs HK$367,100 ($46,769.30) before options.
All Model 3 and Model Y variants, including the RWD versions, are estimated to be delivered within Q2 2023 in Hong Kong.
Frequently Asked Questions: Tesla Price Reduction 2023
Which model gas the greatest price cut?
Tesla model 3 Performance has the greatest price cut of 14.7% off.
When can you get a 2023 Tesla?
If you place an order for a new Model Y today, Tesla anticipates delivery between April and June of 2023. While there may still be select configurations available in inventory in certain regions, they are not expected to remain in stock for long.
What to expect from Tesla Model 3 2023?
This project will include updates to the exterior, interior, software, hardware, and frame of the vehicle. These updates will likely require changes to the manufacturing process, such as implementing front and rear casting to enhance the vehicle’s similarity to the Model Y.
Should I choose car loan or personal loan?
It depends on your personal credit score, if you’re interested in learning more, check out the blog post Car Loans vs. Personal Loans: Which Has a Lower Interest Rate?
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Monthly Payment (based on 36 months repayment period)
HK$6,458
- APR*(based on 36 months repayment period)
- 3.68%
- Total Amount Payable (based on 36 months repayment period)
- HK$232,480
- Total Interest Payable (based on 36 months repayment period)
- HK$132,480
- Monthly Payment (based on 36 months repayment period)
- HK$6,458
Monthly Payment
HK$13,100
- APR*
- 4.64%
- Total Amount Payable
- HK$314,400
- Total Interest Payable
- HK$14,400
- Monthly Payment
- HK$13,100
Monthly Payment
HK$13,520
- APR
- 2.25%*
- Total Amount Payable
- HK$324,480
- Total Interest Payable
- HK$24,480
- Monthly Payment
- HK$13,520
Interested in learning more about getting an electric car in Hong Kong, check out the price comparisons of all Tesla models and EVs of other brands.
Buying an Electric Car in Hong Kong – Price Comparisons of EV Brands
Tesla Alternatives—Electric Car Models Price Comparison: Benz/KIA/MG/BMW and Other EV Brands
Looking for more personal finance tips? Let’s check out MoneySmart Blog!
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