The small price increases for the Tesla Model Y mean that the model is unlikely to revert to price cuts in the near future, and is expected to dampen the wait-and-see attitude of some potential consumers.
(Vehicle information displayed on Tesla's China website on February 17.)
Tesla has raised the prices of both higher-trim versions of the Model Y by RMB 2,000 yuan ($290) in China, a week after the company raised the price of the entry version of the SUV by the same amount.
The latest starting price for the Tesla Model Y Long Range in China is RMB 311,900, up from RMB 309,900 previously, according to its China website.
The Model Y Performance now has a starting price of RMB 361,900, up from RMB 359,900 previously.
Tesla raised the price of the rear-wheel-drive entry-level Model Y from RMB 259,900 to RMB 261,900 on February 10, and the model's price is unchanged today.
Tesla has a factory in Shanghai that produces the Model 3 and Model Y. The company currently offers three versions of the Model Y in China, as well as two versions of the Model 3 -- the rear-wheel-drive Model 3 and the dual-motor, all-wheel-drive Model 3 Performance.
Model 3 prices are unchanged today.
Expected delivery dates for all of these Tesla models are unchanged from prior ones, with 1-4 weeks for both versions of the Model 3, 2-5 weeks for both the base Model Y as well as the Model Y Long Range, and 1-4 weeks for the Model Y Performance.
The price increases for the Model Y come after Tesla sharply cut the prices of all versions of the Model 3 and Model Y in China on January 6, its second in three months.
A Tesla executive said at the time that the price cut was due to the company's good cost control. However, industry watchers generally believe that the more important reason is weak demand.
While price cuts are good for boosting sales in the short term, they can also cause some potential consumers to delay purchases.
If the price of the vehicle fluctuates greatly in the short term, it could lead to a wait-and-see attitude among consumers, Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, said while commenting on Tesla's price cut in an interview with local media earlier this month.
They are always thinking that the prices could come down some more, which would be detrimental to the consumption of new energy vehicles (NEVs), Chen said.
Tesla's Shanghai plant is reportedly preparing for production of the new Model 3, which saw a drop in sales after the China-made Model Y became available.
Tesla will halt some production at its Shanghai plant until the end of February as it upgrades the factory to begin rolling out a revamped version of the Model 3 in the Chinese market, Bloomberg reported on February 15.
The plant has two phases of car manufacturing, and some workers in the first phase will not be allowed on the line starting as early as Sunday as improvements are made, the report said, citing people familiar with the matter.
Tesla has been upgrading the production line in stages for the past two months, and deliveries of the new Model 3 are expected to begin later this year, the person said.
(Exchange rate on February 17: 1 US dollar = 6.8606 yuan)
Tesla China price changes
| Date | Model | Prev Price | Change (RMB) | % | Latest Price |
|---|---|---|---|---|---|
| 20240424 | Model 3 Performance | New | NA | NA | 335,900 |
| 20240421 | Model 3 | 245,900 | -14,000 | -5.69% | 231,900 |
| 20240421 | Model 3 Long Range | 285,900 | -14,000 | -4.90% | 271,900 |
| 20240421 | Model Y | 263,900 | -14,000 | -5.31% | 249,900 |
| 20240421 | Model Y Long Range | 304,900 | -14,000 | -4.59% | 290,900 |
| 20240421 | Model Y Performance | 368,900 | -14,000 | -3.80% | 354,900 |
| 20240421 | Model S | 698,900 | -14,000 | -2.00% | 684,900 |
| 20240421 | Model S Plaid | 828,900 | -14,000 | -1.69% | 814,900 |
| 20240421 | Model X | 738,900 | -14,000 | -1.89% | 724,900 |
| 20240421 | Model X Plaid | 838,900 | -14,000 | -1.67% | 824,900 |
| 20240401 | Model Y | 258,900 | 5,000 | 1.93% | 263,900 |
| 20240401 | Model Y Long Range | 299,900 | 5,000 | 1.67% | 304,900 |
| 20240401 | Model Y Performance | 363,900 | 5,000 | 1.37% | 368,900 |
| 20240112 | Model 3 | 261,400 | -15,500 | -5.93% | 245,900 |
| 20240112 | Model 3 Long Range | 297,400 | -11,500 | -3.87% | 285,900 |
| 20240112 | Model Y | 266,400 | -7,500 | -2.82% | 258,900 |
| 20240112 | Model Y Long Range | 306,400 | -6,500 | -2.12% | 299,900 |
| 20231128 | Model Y Long Range | 304,400 | 2,000 | 0.66% | 306,400 |
| 20231121 | Model Y Long Range | 302,400 | 2,000 | 0.66% | 304,400 |
| 20231114 | Model 3 | 259,900 | 1,500 | 0.58% | 261,400 |
| 20231114 | Model Y | 263,900 | 2,500 | 0.95% | 266,400 |
| 20231109 | Model 3 Long Range | 295,900 | 1,500 | 0.51% | 297,400 |
| 20231109 | Model Y Long Range | 299,900 | 2,500 | 0.83% | 302,400 |
| 20231027 | Model Y Performance | 349,900 | 14,000 | 4.00% | 363,900 |
| 20231019 | New Model 3 | New | NA | NA | 259,900 |
| 20231019 | New Model 3 Long Range | New | NA | NA | 295,900 |
| 20230901 | Model S | 808,900 | -110,000 | -13.60% | 698,900 |
| 20230901 | Model S Plaid | 1,028,900 | -200,000 | -19.44% | 828,900 |
| 20230901 | Model X | 898,900 | -160,000 | -17.80% | 738,900 |
| 20230901 | Model X Plaid | 1,058,900 | -220,000 | -20.78% | 838,900 |
| 20230814 | Model Y Long Range | 313,900 | -14,000 | -4.46% | 299,900 |
| 20230814 | Model Y Performance | 363,900 | -14,000 | -3.85% | 349,900 |
| 20230505 | Model S | 789,900 | 19,000 | 2.41% | 808,900 |
| 20230505 | Model S Plaid | 1,009,900 | 19,000 | 1.88% | 1,028,900 |
| 20230505 | Model X | 879,900 | 19,000 | 2.16% | 898,900 |
| 20230505 | Model X Plaid | 1,039,900 | 19,000 | 1.83% | 1,058,900 |
| 20230502 | Model 3 | 229,900 | 2,000 | 0.87% | 231,900 |
| 20230502 | Model 3 Performance | 329,900 | 2,000 | 0.61% | 331,900 |
| 20230502 | Model Y | 261,900 | 2,000 | 0.76% | 263,900 |
| 20230502 | Model Y Long Range | 311,900 | 2,000 | 0.64% | 313,900 |
| 20230502 | Model Y Performance | 361,900 | 2,000 | 0.55% | 363,900 |
| 20230217 | Model Y Long Range | 309,900 | 2,000 | 0.65% | 311,900 |
| 20230217 | Model Y Performance | 359,900 | 2,000 | 0.56% | 361,900 |
| 20230210 | Model Y | 259,900 | 2,000 | 0.77% | 261,900 |
| 20230106 | Model 3 | 265,900 | -36,000 | -13.54% | 229,900 |
| 20230106 | Model 3 Performance | 349,900 | -20,000 | -5.72% | 329,900 |
| 20230106 | Model Y | 288,900 | -29,000 | -10.04% | 259,900 |
| 20230106 | Model Y Long Range | 357,900 | -48,000 | -13.41% | 309,900 |
| 20230106 | Model Y Performance | 397,900 | -38,000 | -9.55% | 359,900 |
| 20230106 | Model S | New | NA | NA | 789,900 |
| 20230106 | Model S Plaid | New | NA | NA | 1,009,900 |
| 20230106 | Model X | New | NA | NA | 879,900 |
| 20230106 | Model X Plaid | New | NA | NA | 1,039,900 |
| 20221024 | Model 3 | 279,900 | -14,000 | -5.00% | 265,900 |
| 20221024 | Model 3 Performance | 367,900 | -18,000 | -4.89% | 349,900 |
| 20221024 | Model Y | 316,900 | -28,000 | -8.84% | 288,900 |
| 20221024 | Model Y Long Range | 394,900 | -37,000 | -09.37% | 357,900 |
| 20221024 | Model Y Performance | 417,900 | -20,000 | -4.79% | 397,900 |
| 20220617 | Model Y | 301,840 | 15,060 | 4.99% | 316,900 |
| 20220617 | Model Y Long Range | 375,900 | 19,000 | 5.05% | 394,900 |
| 20220315 | Model 3 | 265,652 | 14,248 | 5.36% | 279,900 |
| 20220315 | Model 3 Performance | 349,900 | 18,000 | 5.14% | 367,900 |
| 20220315 | Model Y Long Range | 357,900 | 18,000 | 5.03% | 375,900 |
| 20220315 | Model Y Performance | 397,900 | 20,000 | 5.03% | 417,900 |
| 20220310 | Model 3 Performance | 339,900 | 10,000 | 2.94% | 349,900 |
| 20220310 | Model Y Long Range | 347,900 | 10,000 | 2.87% | 357,900 |
| 20220310 | Model Y Performance | 387,900 | 10,000 | 2.58% | 397,900 |
| 20211231 | Model 3 | 255,652 | 10,000 | 3.91% | 265,652 |
| 20211231 | Model Y | 280,752 | 21,088 | 7.51% | 301,840 |
| 20211124 | Model 3 | 250,900 | 4,752 | 1.89% | 255,652 |
| 20211124 | Model Y | 276,000 | 4,752 | 1.72% | 280,752 |
| 20211119 | Model 3 | 235,900 | 15,000 | 6.36% | 250,900 |
| 20211027 | Model S Long Range | 859,990 | 30,000 | 3.49% | 889,990 |
| 20211027 | Model X Long Range | 909,990 | 30,000 | 3.30% | 939,990 |
| 20210911 | Model Y Performance | 377,900 | 10,000 | 2.65% | 387,900 |
| 20210804 | Model S Long Range | 829,990 | 30,000 | 3.61% | 859,990 |
| 20210804 | Model X Long Range | 879,990 | 30,000 | 3.41% | 909,990 |
| 20210730 | Model 3 | 250,900 | -15,000 | -5.98% | 235,900 |
| 20210716 | Model S Long Range | 799,990 | 30,000 | 3.75% | 829,990 |
| 20210716 | Model X Long Range | 849,990 | 30,000 | 3.53% | 879,990 |
| 20210708 | Model Y | NA | New | NA | 276,000 |
| 20210508 | Model 3 | 249,900 | 1,000 | 0.40% | 250,900 |
| 20210324 | Model Y Long Range | 339,900 | 8,000 | 2.35% | 347,900 |
| 20210324 | Model Y Performance | 369,900 | 8,000 | 2.16% | 377,900 |
| 20210101 | Model 3 Performance | New | NA | NA | 339,900 |
| 20210101 | Model Y Long Range | New | NA | NA | 339,900 |
| 20210101 | Model Y Performance | New | NA | NA | 369,900 |
| 20201001 | Model 3 | 271,600 | -21,700 | -7.99% | 249,900 |
| 20201001 | Model 3 Long Range | 344,050 | -34,150 | -09.93% | 309,900 |
