Tesla launches second price rise for China-made models within 1 week

Shanghai (Gasgoo)- Tesla bumped up prices of some versions of the China-made Model 3 and Model Y by 18,000 yuan ($2,830) to 20,000 yuan ($3,145), according to the information updated on March 15 on Tesla China's website. Notably, this was the second-time price increase the U.S. EV manufacturer launched for China-built vehicles within one week.

Amid the newest round of price change, the price of the made-in-China Model 3 High-performance grew by 18,000 yuan to 367,900 yuan ($57,850), while the Model Y's Long-range and High-performance versions recorded a price increase of 18,000 yuan and 20,000 yuan respectively. Currently, the price of the Model Y High-performance has exceeded 400,000 yuan ($62,900).

The latest adjustment came only five days after Tesla raised the price on the aforesaid three versions by 10,000 yuan ($1,570). Amid the previous change, the price of the Model 3 High-performance and the Model Y's Long-range and High-performance was lifted to 349,900 yuan ($55,020), 357,900 yuan ($56,280), and 397,900 yuan ($62,570).

After Tesla raised prices in China last week, Wedbush analyst Dan Ives said the rising inflation rates, along with the rapidly increasing price of nickel, were the main reasons for the price adjustments. The analyst predicted then that the company would probably announce in the next two weeks another price increase. He added Tesla still has the ability to pass inflation through to the consumer, very similar to Netflix and Amazon Prime.

Tesla's Chief Executive Officer Elon Musk said in a tweet last Sunday the U.S. EV maker and his rocket company SpaceX are facing significant inflationary pressure in raw materials and logistics.