Tesla is preparing to increase the price of the Model Y in China, the second such price hike following a minor refresh to the electric SUV last month.
In October Tesla quietly and surprisingly upgraded the Model Y made at Giga Shanghai, adding some design elements from the new and upgraded Model 3, including interior RGB lighting, new materials for the dash and door panels, and darker Gemini wheel covers. Later in the month Tesla increased the price of the Model Y Performance to ¥363,900, a ¥14,900 (~C$2,800) jump. The Rear-Wheel Drive (RWD) and Long Range (LR) variants remained the same, however it appears they may be next in line for a price increase.
According to local media reports, Tesla says that Model Y prices will be increased again this Thursday. The report did not state how much the price increase will be, or which variants will be affected.
— Tsla Chan (@Tslachan) November 7, 2023
Tesla’s China team operates very differently than their counterparts in North America. When the price of the Model Y Performance was increased late last month in China, Tesla took to its Weibo social media account to announce the change, posting a helpful infographic explaining the Performance variant was increasing, while the RWD and LR variants were staying the same.
Meanwhile across the pond, Tesla North America also increased the price of the Model Y LR in the US by $500. However unlike in China, the change went unannounced, leaving it to fans to spot the minor change on the website.
While Model Y prices have been increased in the US and China, the opposite has taken place in Canada. Also last month Tesla lowered prices on all Model Y variants in Canada, the RWD, LR, and Performance, by $2,000 to start at $57,990, $67,990, and $74,290 respectively.