(Source: CnEVPost)
Tesla announced Saturday that effective immediately the China-made Model 3 standard range version - the company's lowest-priced model in China - is going up by 1,000 yuan ($155).
The model was previously priced at RMB 249,900, and the latest price is RMB 250,900.
Tesla said on Weibo that this adjustment reflects the actual situation of cost fluctuations.
Information on Tesla's China website shows that the price of the other Model 3 model sold in China, the Performance version with dual-motor all-wheel drive, remains unchanged at RMB 339,900.
(Source: Tesla China website)
Tesla's move comes after the company raised the prices of several models in the United States.
On Friday, Tesla raised the prices of the Model 3 Standard Range Plus, Model 3 Long Range, and Model Y Long Range by $500 in the US.
[Tesla hikes prices in US] Model 3 Standard Range Plus, Model 3 Long Range, and Model Y Long Range are all $500 more expensive than before. pic.twitter.com/yp1iufoEgg
— CnEVPost (@CnEVPost) May 7, 2021
This is the first price increase for the China-made Model 3, after Tesla received numerous complaints from owners for repeated price cuts last year.
At the end of March, Tesla raised the price of the China-made Model Y by 8,000 yuan ($1,126). After the adjustment, the Model Y Long Range is priced at RMB 347,900 and the Performance is priced at RMB 377,900.
The company's sales staff said the Model Y price increase was due to rising raw material prices and had no impact on consumers who had already made reservations.
Tesla then said that it has no plans to raise prices for other models sold in China, including the China-made Model 3.
However, CCTV at that time quoted Tesla's sales staff as saying that since 75% of the parts of Tesla's Model Y and Model 3 are common, the price of China-made Model 3 will follow the Model Y's upward adjustment.
