Tesla Increases Model Y Prices in China, South Korea and Australia

Courtesy of Tesla, Inc.

Tesla has increased the price of its Model Y vehicles in multiple markets, including China, South Korea and Australia.

@Tslachan spotted the price increases in China, where the Model Y Long Range and Performance variants have both increased by 2,000 yuan ($291.51 USD), with the vehicles now retailing for 311,900 yuan ($45,461.20 USD) and 361,900 yuan ($52,748.98 USD), respectively.

In South Korea, Tesla raised the price of the Model Y LR variant to 78,390,000 won ($60,411.57 USD), and the Performance variant was bumped up to 84,990,000 won ($65,487.50 USD), as @Tslachan also pointed out. Additionally, Tesla increased deposits on all vehicles to three million won ($2,311.08 USD) from its previous price of one million won ($770.36 USD).

Twitter account @TeslaModelYAust noticed that Tesla increased the price of the Model Y Performance to $95,300 AUD ($65,652.80 USD) for an increase of $400 AUD ($275.56 USD). Australia is set to receive its first deliveries of the Model Y Performance in the coming months, with recent estimated delivery timelines showing April to June.

The news is just the latest in a series of price increases on Tesla’s vehicles in China, since Tesla slashed prices on its lineup across world markets just over a month ago. Following the price cuts, Tesla’s delivery times on the Model Y increased substantially.

Tesla’s prices dropped even more in South Korea just a few weeks ago, along with the country’s debut of updated electric vehicle (EV) subsidies.