Published on April 26th, 2024 | by Subhash Nair


Tesla Malaysia Quietly Drops Model 3 And Model Y Prices By RM8,000

Tesla Malaysia drops prices by RM8,000 for existing variants of the Model 3 and Model Y.

It looks like Tesla’s global price cuts have finally trickled down to Malaysia and we’re seeing RM8,000 lower price tags on their official website. Imagine having just purchased one a week or two ago! Less than a year ago, the company launched the Model Y here with three variants priced as follows:

New Pricing For Tesla Model Y In Malaysia

At launch, this was the pricing for the Tesla Model Y:

  • Model Y RWD: RM199,000
  • Model Y Long Range: RM246,000
  • Model Y Performance: RM288,000

Today, we checked out the Tesla Malaysia website and found new pricing as follows:

  • Model Y RWD: RM191,000
  • Model Y Long Range: RM238,000
  • Model Y Performance: RM280,000

The Model Y is kind of long in the tooth globally and isn’t quite as sought after as the Model 3. What surprised us was that the same RM8,000 price reduction was brought forward to the Model 3 as well.

New Pricing For Tesla Model 3 In Malaysia

At launch, this was the pricing of the Tesla Model 3 in Malaysia:

  • Model 3 RWD: RM189,000
  • Model 3 Long Range: RM218,000
  • Model 3 Performance: not available

We got the facelifted model (codenamed Highland) and this did not initially come with the Performance trim. The Performance model was revealed this week and was confirmed at RM242,000. This pricing has not been discounted of course. Here’s what the prices look like on the website now:

  • Model 3 RWD: RM181,000
  • Model 3 Long Range: RM210,000
  • Model 3 Performance: RM242,000

Why The Price Drop?

This directive probably comes down headquarters and may not be directly linked to sales of Tesla vehicles in Malaysia. All over the world, Tesla has been dropping prices in response to poor sales. This poor performance is due to competition from Chinese manufacturers and a drop in overall demand for electric vehicles.

Over in China, where our version of the Tesla Model 3 is made, the firm has dropped prices for the car by 14,000 yuan, which converts to about RM9,000. Once you take away shipping fees and other handling expenses, a drop by RM8,000 here per unit is pretty reasonable.

So, is now a good time to buy a new Tesla Model 3 or Model Y? Well, if you’re already about to buy a Model 3 Rear Wheel Drive or Long Range brand new then yes. It’s about a 4% discount for the same product and the car is still reasonably fresh. If you have the money for the Performance model then you’ll have to wait until it arrives in Malaysia later this year.

As for the Model Y, we think that it’s getting a bit long in the tooth and there are plenty of alternative crossovers that can deliver similar specifications that are more recent and from more reputable brands.

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Written work on @subhashtag on instagram. Autophiles Malaysia on Youtube.

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