This is a continuation of Tesla's price hike last week, when it raised the prices of the long-range versions of the Model 3 and Model Y slightly on November 9 in China.
(Image credit: CnEVPost)
Tesla (NASDAQ: TSLA) has slightly raised the prices of the basic Model 3 and Model Y in China, after making a similar move last week for the long-range versions of both models.
Effective immediately, the price of the Model 3 rear-wheel-drive version has increased by RMB 1,500 ($206), and the Model Y rear-wheel-drive version has increased by RMB 2,500, Tesla announced today on Weibo.
The Model 3 and Model Y are the models that Tesla builds at its Shanghai plant; its other two more expensive models, the Model S and Model X, are not built in China.
The Model 3 is offered in two versions in China -- the entry-level version with rear-wheel drive, and the Model 3 Long Range version with dual-motor all-wheel drive.
The starting price of the Model 3 basic edition has been increased by 0.58 percent from RMB 259,900 to the latest price of RMB 261,400, while the starting price of the Model 3 Long Range remains at RMB 297,400.
The Model Y is offered in three versions in China -- the entry rear-wheel drive version, the dual-motor all-wheel drive Model Y Long Range version, and the dual-motor all-wheel drive Model Y Performance version.
The price of the entry-level Model Y has been increased by 0.95 percent to RMB 266,400 from RMB 263,900 previously.
The starting price remains at RMB 302,400 for the Model Y Long Range and RMB 363,900 for the Model Y Performance.
The expected delivery dates for Tesla models in China remain unchanged, at 2-6 weeks for the basic Model 3, basic Model Y, and Model Y Performance, 6-9 weeks for the Model 3 Long Range, and 6-8 weeks for the Model Y Long Range.
Tesla has made several price adjustments in China over the past few months, lowering the starting price of both the Model Y Long Range and the Model Y Performance by RMB 14,000 on August 14.
On October 27, the Model Y Performance's starting price in China was raised by RMB 14,000 from RMB 349,900 to RMB 363,900.
On November 9, the Model 3 Long Range increased its price by RMB 1,500 in China, and the Model Y Long Range increased its price by RMB 2,500.
Tesla sold 72,115 China-made vehicles in October, of which 43,489 were exported and 28,626 were sold in China, according to the China Passenger Car Association (CPCA).
The Model 3 sold 2,273 units at retail in China in October, contributing 7.94 percent of Tesla's sales in China last month.
Model Y retail sales in China in October were 26,353 units, contributing 92.06 percent of Tesla's October retail sales of 28,626 units in China.
($1 = RMB 7.2893)