It appears that Tesla China is poised to raise the price of the Gigafactory Shanghai-made Model Y crossover. The expected price hike comes just weeks after the electric vehicle maker increased the price of the Model Y Performance by RMB 14,000 (around $1,920).
Industry watchers in China have observed that multiple Tesla salespeople have posted in their WeChat status that the price of the Model Y was going up in the country. The Tesla staff reportedly noted that the upcoming price hike would be a continuation of the RMB 14,000 price increase that was rolled out to the Model Y Performance last month.
The same information was echoed by local media outlet Jiemian, which cited a comment from Tesla China stating that it was indeed planning to adjust the prices of the Model Y’s other versions. Tesla China currently offers three variants of the Model Y: the base Rear Wheel Drive (RWD), the Long Range Dual Motor All Wheel Drive (AWD), and the Performance.
Starting prices for the three Model Y variants are currently listed at RMB 263,900 (about $36,200), RMB 299,900 (about $41,200), and RMB 363,900 (about $50,000), respectively. Prior to its RMB 14,000 price increase last month, the Model Y Performance was listed with a price of RMB 349,900 (about $48,000).
While Tesla staff in China are hinting at a price hike, and while local media outlets have cited Tesla China itself noting that a price increase is coming to the Model Y, the timing or range of the price adjustments remains to be seen. Such an announcement could also be seen as a way to incentivize customers to purchase a Model Y now to avail of a lower price.
The Model Y is Tesla’s best-selling car, and in Q1 this year, it actually became the world’s best-selling vehicle. A notable part of Tesla’s Model Y sales is in China, which is likely why the EV maker has made efforts to make the all-electric crossover more attractive to domestic consumers. Last month, for example, Tesla rolled out a minor update to the Model Y in the form of ambient lightning in the cabin, a new dashboard trim, and new wheels.
Don’t hesitate to contact us with news tips. Just send a message to email@example.com to give us a heads up.