Tesla Sales in Japan in March Increased 13 Times Over Same Period Last Year

Eva Fox by Eva Fox April 08, 2021

Tesla Sales in Japan in March Increased 13 Times Over Same Period Last Year

Photo: Bloomberg

Tesla sales in Japan in March 2021 are on a very rapid rise and are showing an increase of 1237% over the same period last year. In February, the company cut prices for the Model 3, which spurred new orders. The company's new policy could make Japan a new big market for the Californian manufacturer.

Tesla registered 588 Model 3s in March, reflecting a 13-fold increase in sales from the same period last year, according to a report by the Japan Automobile Importers Association. This allowed the model to take third place among foreign brands, regardless of propulsion type, and first place in the EV market.

One of the biggest incentives to buy Model 3 was the sharp price cut that took effect on February 17. This preceded the start of the model’s export from Giga Shanghai. The starting price of Model 3 Standard Range Plus has been reduced by $7,800 to $40,500 (¥4.29 million) from $48,300 (¥5.11 million). Model 3 Long Range dropped by $14,700 to $47,200 (¥4.99 million). Model 3 Performance price remained at $67,800 (¥7.17 million). The price decrease of Model 3 by almost 25% is a consequence of the fact that Giga Shanghai began production of right-hand drive vehicles for various markets, including Japan.

In addition, incentives for the purchase of electric vehicles have been doubled. Japan's Ministry of the Environment and the Ministry of Economy, Trade and Industry have increased the current exemptions from ¥400,000 ($3,850) to ¥800,000 ($7,700). The total corresponding budget is ¥8 billion ($177.2 million). These incentives can be used together with incentives provided by local authorities. For example, in Tokyo, pure electric vehicles will be able to receive incentives of up to ¥1.1 million ($10,600). Thus, buying a Model 3 becomes an extremely good, economical decision.

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Article edited by @SmokeyShorts, you can follow him on Twitter






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