Tesla hikes Model Y Long Range price in China by about $2,840

Tesla is currently offering two versions of the Model 3 in China as well as three versions of the Model Y. The pricing and expected delivery dates for all models except the Model Y Long Range remain unchanged.

Tesla raised the price of one version of its Model Y SUV significantly in China, following the company's price increase in the US.

The latest price for the Tesla Model Y Long Range in China is RMB 394,900, up by RMB 19,000 ($2,840) from the previous RMB 375,900, information on its China website shows.

Tesla currently offers two versions of the Model 3 in China as well as three versions of the Model Y. Other than the price change for the Model Y Long Range, the pricing and expected delivery dates for the other models remain unchanged.

(Vehicle information displayed on Tesla's China website on June 17.)

Tesla has not yet announced the price increase on its social media platforms in China, and the reason for the price increase is unknown.

But based on the company's previous comments, the price adjustment appears to reflect Tesla's expectation that raw material prices will continue to rise in the coming months.

Tesla's move in China comes after it significantly increased the price of its vehicles in the United States.

On June 16, Tesla increased the price of its Model Y Long Range in the US from $62,990 to $65,990 and the Model Y Performance from $67,990 to $69,990.

Tesla last increased prices in China three months ago, raising the price of the Model Y rear-wheel-drive version by RMB 15,060 to 316,900 on March 17.

Over the past three months, Tesla has not raised prices in China, but has made several adjustments to expected delivery times.

Tesla extended the expected delivery date for the entry-level version of the Model 3 in China on June 2 to 20-24 weeks from the previous 16-20 weeks. The expected delivery dates for Model 3 Performance as well as Model Y were unchanged at the time.

On June 7, the expected delivery date for the rear-wheel-drive entry-level version of the China-made Model 3 became 16-20 weeks, a reduction of four weeks from the previous 20-24 weeks.

The expected delivery date for the dual-motor all-wheel-drive Model 3 Performance then became 12-16 weeks, also down 4 weeks from the previous 16-20 weeks.

(Vehicle information displayed on Tesla's China website on June 7.)

Back the Model Y, the SUV has quickly become one of the most popular following its local production in China.

In March, Tesla Model Y retail sales in China were 39,730 units, making it the best-selling of all SUVs in China in March and the first quarter, according to data previously released by the China Passenger Car Association (CPCA).

Tesla's Shanghai plant saw its sales plunge in April and May as production was suspended during the city's Covid lockdown.

Even so, the Tesla Model Y ranked No. 1 in retail sales in China with 75,641 units from January to April among high-end SUVs starting at more than RMB 300,000 in China.

In May, Model Y retail sales in China were 5,875 units, down 53.84 percent from 12,728 units a year ago and up 511.98 percent from 960 units in April, according to the CPCA.