Tesla has announced some price increases in China for the Model 3 and Model Y, following a report earlier this week the automaker would be doing just that. The price increases only affect the Long Range variants of each vehicle.
Despite some speculation the prices increases would be substantial, they were less than 1% and only amounted to a few hundred dollars. According to a post from the official Tesla account on Weibo, the Model 3 Long Range now costs ¥297,400 (C$57,300/US$40,800, an increase of just ¥1,500, or about C$290/US$205. Meanwhile the Model Y Long Range increased a little more, now costing ¥302,400 (C$58,300/US$41,500), a ¥2,500 (C$480/US$340) increase.
This is the first price increase for the Model 3 since Tesla launched the new and upgraded design back in September. It is not the first price change for the Model Y after it too received a minor refresh. Late last month Tesla implemented a much more substantial price increase to the Model Y Performance, raising it by ¥14,900 (~C$2,800) to ¥363,900.
According to Tesla staff in China who spoke with the local publication Elephant News, today’s price increases were driven mainly by increased costs in manufacturing. (via CNEvPost)
Whatever the reason, Tesla warned customers it was coming. Earlier this week Tesla confirmed with local media they were planning on increasing prices on some of their vehicles, even giving the day it was expected to happen, Thursday.