Tesla has issued a price increase for the Model Y in China, raising all three trims by ¥5,000. A number of other incentives also expired at the same time, effectively raising the price of the Model Y by much more than that.
Along with the price change, the company also updated its online configurator to make Stealth Grey the new standard colour for the Model Y in China.
Model Y Price Increase in China
Earlier this month Tesla announced in China that it will be increasing the price of the Model Y built at Giga Shanghai on April 1, 2024. This wasn’t the first time Tesla had announced an impending price increase, having previously used the same marketing strategy in North America to drive sales in Canada and the US.
As expected, on April 1 Tesla China increased all three variants of the Model Y in China by ¥5,000, or about C$950 or US$690. The Rear-Wheel Drive (RWD) variant now starts at ¥263,900, while the Long Range (LR) and Performance variants now starts at ¥304,900 and ¥368,900 respectively.
However the company also removed several incentives that were previously available on the Model Y. In March Tesla launched an insurance subsidy on the Model 3 and Model Y RWD, worth ¥8,000 (C$1,500/US$1,100), a free paint upgrade for any Model 3/Y, and special financing rates as low as 1.99% for the Model 3/Y. Taking these into account, along with the price increase, and the Model Y RWD is now effectively as much as ¥20,000 (C$3,700/US$2,700) more expensive.
Stealth Grey
Along with the price changes, Tesla also made a change to its online configurator to make Stealth Grey the new standard colour for the Model Y. Previously this optional colour cost ¥12,000 (C$2,200/US$1,660).
The previous standard colour, Solid Black, now costs ¥8,000 (C$1,500/US$1,100).
