Tesla Increases Price of Model Y Standard Range in China
While Monday’s lineup-wide price hikes from Tesla across the globe did not affect the Model Y Standard Range Rear-Wheel Drive (RWD) trim in China, Tesla adjusted pricing for the China-exclusive entry-level Model Y on Thursday — reports CnEVPost.
According to the publication and Tesla’s Chinese vehicle configurator, the Model Y Standard Range RWD now costs ¥316,900 following an increase of ¥15,060 ($2,372 USD).
Monday’s price hikes saw sticker prices across Tesla’s Model 3 and Model Y lineups in China jump up, and they represented the company’s second round of price increases in the country in the span of a week.
The Model 3 Standard Range RWD went up by ¥14,248 to ¥279,900, while the Model 3 Performance rose ¥18,000 to ¥367,900. Tesla increased the price of the Model Y Long Range by ¥18,000 to ¥375,900 while the Model Y Performance jumped a whopping ¥20,000 to ¥417,900.
Wednesday’s price adjustment applied exclusively to the Model Y Standard Range RWD and did not affect any of Tesla’s other Chinese offerings.
Wedbush analyst Daniel Ives on Monday predicted that Tesla would increase prices in the “next two weeks”, due to inflationary pressure on the company’s raw materials, including nickel.
On Sunday, Elon Musk said Tesla and SpaceX were “seeing significant recent inflation pressure in raw materials and logistics.”