Tesla's move could help dispel the wait-and-see sentiment of some potential consumers, which could benefit sales in the near term.
Tesla (NASDAQ: TSLA) has raised prices for its entire Model 3 and Model Y lineup in China in a move that appears to be aimed at dispelling consumer wait-and-see sentiment.
Tesla has a factory in Shanghai that makes the Model 3 and Model Y, and their prices in China have all been raised by 2,000 yuan ($289), or less than 1 percent.
The company now offers two versions of the Model 3 in China -- the rear-wheel drive Model 3 and the dual-motor all-wheel drive Model 3 Performance -- and three versions of the Model Y -- the entry version Model Y, Model Y Long Range, and Model Y Performance.
The two versions of the Model 3 currently start at RMB 231,900 and RMB 331,900, respectively, and the three versions of the Model Y start at RMB 263,900, RMB 313,900 and RMB 363,900, respectively.
Expected delivery dates for all of these Tesla models remain unchanged from previous dates, 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.
Last month, Tesla lowered the prices of the Model 3 as well as the Model Y in several markets around the world, raising concerns about whether it would lower prices in the Chinese mainland.
On April 15, Grace Tao, Tesla's vice president of external affairs, shared several charts on Weibo showing that all versions of the Model 3 and Model Y available in the Chinese mainland are priced lower than in all other markets.
Tao shared the charts without comment, although the move appears to suggest that Tesla won't be dropping prices in China in the near term.
Tesla's move today could help dispel the wait-and-see mood of some potential consumers, which could benefit sales in the near term.
The electric vehicle maker delivered 76,663 vehicles in China in March, and its Shanghai plant exported 12,206 units, according to the China Passenger Car Association (CPCA).
Retail sales of the Model 3 in China in March were 21,726 units and 54,937 units of the Model Y.
($1 = RMB 6.9121)
Tesla prices: Here's how Model 3 and Model Y compare in China vs other markets
Tesla China price changes
| Date | Model | Prev Price | Change (RMB) | Change (%) | Latest Price |
|---|---|---|---|---|---|
| 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 |
| 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 | -09.55% | 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 |
