by Morton E. . Nov 10, 2023
Image Credit: Tesla Asia/X
Tesla China has rolled out a price increase for the Model 3 and Model Y. Just as previously expected, the price increases were implemented on the vehicles’ Long Range Dual Motor All Wheel Drive variants.
What's happening: Tesla China raised the prices of the Model 3 and Model Y Long Range variants on Thursday. The Model 3 Long Range received a RMB 1,500 ($206) price increase, while the Model Y Long Range saw a price adjustment of RMB 2,500 ($343).
Why it matters: The price increases for the Model 3 and Model Y suggest that demand for the two all-electric vehicles is healthy. It bodes well for the demand for the Model 3 Highland and the Model Y’s recent minor refresh.
By the numbers:
- The Model 3 Long Range now starts at RMB 297,400 ($40,819).
- The Model Y Long Range now starts at RMB 302,400 ($41,507).
- The price increase is only applicable to the Model 3 Long Range and Model Y Long Range variants. The Model 3 Rear Wheel Drive, the Model Y Rear Wheel Drive, and the Model Y Performance did not receive a price increase for now.
What's next: It is unclear whether Tesla will raise the prices of its other vehicles in China in the near future. However, speculations are high that the Model 3 and Model Y’s Rear Wheel Drive variants may also see a price increase.
Here's what else you need to know:
- Tesla China hinted at the price increase on social media days before it was implemented.
- The company also confirmed to local news outlets that it was planning a price adjustment.
- Local motoring news site Auto Home was reportedly even provided details, such as the date when the price increase will be implemented, as well as the fact that the adjustments will also be rolled out for the Model 3 Long Range.
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