Tesla raises prices of certain Model 3, Model Y models in China

Beijing (Gasgoo)- Tesla raised the prices of several models in China by RMB10,000 (about $1,582), according to the American company’s Chinese website.   

Photo credit: Tesla

Specifically, the price of the dual-motor, all-wheel-drive Model 3 Performance version increased to RMB349,900 (about $55,354) from RMB339,900 (about $53,772) while the respective price of the dual-motor all-wheel-drive Model Y Long Range and Model Y Performance climbed from RMB347,900 (about $55,038) and RMB387,900 (about $61,366) to RMB357,900 (about $56,620) and RMB397,900 (about $62,948). 

In the United States, the automaker also bumped up the prices of the Model Y Long Range and the Model Y Performance by 1,000 dollars to $59,990 and $64,990 respectively.

According to data from the China Passenger Car Association, the total wholesale volume of China-made Tesla vehicles amounted to 116,260 in the first two months of this year, and the volume of China’s market totaled 42,546 units.

In March, many automakers have announced to increase the prices of numerous models, including SAIC Roewe, WM Motor, Geely’s Geometry brand and Great Wall Motor’s ORA brand. Earlier, China’s electric vehicle startup NETA, BYD and Wuling also raised the prices of over 30 models in total. Affecting factors include the phasing out of new energy vehicle subsidies, price increase of raw materials and automotive chip supply shortage.