The Tesla Model Y is offered in three versions in China, with the prices of the other two cheaper versions unchanged.
(Image credit: Tesla)
Tesla (NASDAQ: TSLA) has raised the price of the most expensive version of the Model Y in China by RMB 14,000 ($1,910), after launching an updated version for the SUV earlier this month.
The Model Y Performance's starting price in China has been raised to RMB 363,900, while the starting prices of the model's other two versions remain unchanged at RMB 263,900 and RMB 299,900, respectively, Tesla announced today on Weibo.
The Tesla Model Y is available in China in 3 versions -- rear-wheel drive, long range, and performance. The Model Y Performance saw a price hike of RMB 14,000, or 4 percent, today.
Tesla has a factory in Shanghai with a current capacity of more than 950,000 vehicles per year, its largest in the world, according to its third-quarter financial report released earlier this month.
Giga Shanghai began operations at the end of 2019 and started deliveries of the locally produced Model 3 in January 2020 and the locally produced Model Y in January 2021.
On October 1, Tesla launched the new Model Y with minor feature updates in China, adding improvements including multi-colored ambient lighting, a new dashboard trim, and new 19-inch wheels.
In the update, the base Model Y saw improved range and acceleration, while the Model Y Long Rang saw improved range. The key information about the Model Y Performance remained the same.
On October 15, Tesla announced that deliveries of the new Model Y in China had begun.
The current wait times in China for both the base Model Y as well as the Model Y Performance are 2-6 weeks, and 6-8 weeks for the Model Y Long Range, according to Tesla's Chinese website.
Tesla unveiled the new Model 3 on September 1, and on October 19, sales of the new Model 3 officially began in China. On October 26, Tesla said deliveries of the new sedan had begun in China.
Tesla sold 74,073 China-made vehicles in September, including 30,566 exported and 43,507 delivered in China, according to data released earlier this month by the China Passenger Car Association (CPCA).
Model Y retail sales in China in September were 41,428 units, contributing 95.22 percent of Tesla's retail sales in China in September.
Model 3 retail sales in China in September were 2,079 units, contributing 4.78 percent to Tesla's sales in China.
($1 = RMB 7.3177)
China NEV market share in Sept: BYD 34.5%, Tesla 5.8%, Nio 2.1%
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