Industry dynamics

Tesla hikes Model Y Long Range price in China by about $2,840

Publishtime:1970-01-01 08:00:00 Views:35

Tesla is currently offering two versions of the Model 3 in China as well as three versions of the Model Y. The pricing and expected delivery dates for all models except the Model Y Long Range remain unchanged.

Tesla raised the price of one version of its Model Y SUV significantly in China, following the company's price increase in the US.

The latest price for the Tesla Model Y Long Range in China is RMB 394,900, up by RMB 19,000 ($2,840) from the previous RMB 375,900, information on its China website shows.

Tesla currently offers two versions of the Model 3 in China as well as three versions of the Model Y. Other than the price change for the Model Y Long Range, the pricing and expected delivery dates for the other models remain unchanged.

Tesla reduces Model 3 wait times in China, while Model Y Long Range gets extended-CnEVPost

(Vehicle information displayed on Tesla's China website on June 7.)

Back the Model Y, the SUV has quickly become one of the most popular following its local production in China.

In March, Tesla Model Y retail sales in China were 39,730 units, making it the best-selling of all SUVs in China in March and the first quarter, according to data previously released by the China Passenger Car Association (CPCA).

Tesla Model Y becomes top-selling SUV in China in both March and Q1-CnEVPost

Tesla's Shanghai plant saw its sales plunge in April and May as production was suspended during the city's Covid lockdown.

Even so, the Tesla Model Y ranked No. 1 in retail sales in China with 75,641 units from January to April among high-end SUVs starting at more than RMB 300,000 in China.

In May, Model Y retail sales in China were 5,875 units, down 53.84 percent from 12,728 units a year ago and up 511.98 percent from 960 units in April, according to the CPCA.

Tesla delivers 3,950 Model 3 and 5,875 Model Y vehicles in China in May-CnEVPost