This week, Tesla has reduced the price of the Model 3 in China by 15,000 yuan, which is around £1,600 or $2,300. Meaning the car now retails for 235,900 yuan, around £26,280 or $36,500. The price reductions are down to “cost fluctuations” as Tesla’s press team said.

Over in the US, the price of the Model 3 has actually been going up slightly over the past number of months.