by Morton E. . Nov 29, 2023
Tesla Raises Model Y Long Range Price in China Again
Image Credit: Tesla Asia/X
Tesla has once again increased the price of the Model Y Long Range in China. The Dual-Motor Tesla Model Y Long Range AWD in China now starts at RMB 306,400 before options. This marks the fifth time Tesla has increased the price of the Model Y Long Range in China this month.
In early November, Tesla increased the price of the Model Y Long Range by RMB 2,500. Later in the month, the company raised the price by another RMB 2,000. And now, the price has been increased by an additional RMB 2,000.
Tesla has also increased the price of the Model 3 Long Range twice this month. In early November, the company raised the price of the Model 3 Long Range by RMB 1,500. Later in the month, the price was increased by another RMB 1,500.
As of today, Tesla China sells the Model Y RWD version at a starting price of RMB 266,400, and the Dual-Motor Model Y Performance starts at RMB 363,900. Meanwhile, the base Model 3 starts at RMB 261,400 while the Dual-Motor Model 3 Long Range starts at RMB 297,400.
It is unclear why Tesla has been increasing the price of its models in China so frequently. However, it is worth noting that the pricing strategy may be getting utilized by the company as a way to persuade consumers to purchase cars as soon as possible.
Tesla's price increases come at a time when the company is facing increased competition in China. A number of Chinese automakers are now producing electric vehicles that are comparable to Tesla's in terms of performance and range. Additionally, the Chinese government is investing heavily in the development of charging infrastructure, which is making electric vehicles more practical for Chinese consumers.
Tesla has so far responded by improving its two strongest sellers in China. Tesla has rolled out the Model 3 Highland, which features a revamped exterior and interior, to the domestic market. The Tesla Model Y was also given a minor refresh that included new interior flourishes.
It remains to be seen whether Tesla's price increases will have a negative impact on the company's sales in China. However, the company is likely to continue to face challenges from Chinese competitors in the years to come.
