Tesla adjusts Model 3 and Model Y prices upward in Chinese market
American electric car pioneer Tesla Motors has incrementally increased the prices of its refreshed Model 3 electric sedan and Model Y crossover SUV in China, in a move that doesn’t seem to be driven by the typical supply and demand dynamics. The price modifications implemented by Tesla, which were anticipated, were executed in a carefully planned two steps. On 9th of November, the EV giant implemented price hikes for the Model 3 Long Range all-wheel drive (AWD) as well as the Model Y Long Range AWD, inflating the costs by $206 (CNY 1,500 or 0.6 per cent) and $340 (CNY 2,500 or 0.9 per cent), respectively. A few days later, on 14th of November, comparable price adjustments were implemented for the entry-level rear-wheel drive (RWD) editions of both the Model 3 and Model Y.
Notably, the aforementioned alterations in the prices of the BEVs excluded the ‘Performance’ version of the Model Y, which highlights a selective pricing strategy by Tesla for specific variants within its product lineup. This strategic move suggests a calculated approach adopted by the company, showcasing its distinctive operational strategies in response to the China – the world’s leading car market.
Following the price hikes, amidst a landscape of shifting costs, the entry-level Tesla Model 3 RWD (LFP) starts at $35,880 (equivalent to CNY 261,400), while the high-performance Model 3 variant starts at $40,850 (equivalent to CNY 297,400), representing hikes of 0.6 and 0.5 per cent, respectively. When it comes to the Model Y lineup, the RWD (LFP) variant received a 0.9 per cent bump of CNY 2,500, which pushed the price to $36,580 (CNY 266,400), and the Long-Range AWD saw an uptick of 0.8 per cent of CNY 2,500, reaching $41,500 (CNY 302,400). As already mentioned above, the price for the top-tier Model Y Performance remains untouched at $49,950 (CNY 363,900).
Despite the price adjustments, the estimated delivery times for the Model 3 and model Y haven't changed. The American EV giant typically aligns price adjustments with alterations in delivery times, but this time, the estimated wait times for both zero-emission vehicles remain consistent. The Model 3 RWD (LFP) and Model Y RWD (LFP) have a delivery window of 2 to 6 weeks, while the high-performance Model 3 requires 6 to 9 weeks. The Model Y Performance has a delivery time of 2 to 6 weeks, while the Model Y Long Range AWD takes 6 to 8 weeks to arrive at the buyer’s doorsteps.