Tesla China Raises Prices for Model S and Model X, the Second Price Increase from July

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(Source: Tesla)

The website of the Chinese division of American electric vehicle manufacturer Tesla on Wednesday showed that the price of the Long Range Model S price was raised from 829,990 yuan ($128,466) to 859,990 yuan, an increase of 30,000 yuan. The price of the Long Range Model X was also raised to 909,990 yuan, an increase of 30,000 yuan.

In the United States, these two models’ prices have also been raised by $5,000 respectively. Tesla said that the reason behind the price increase is an adjustment in its global strategy..
 
This is the second price increase of the Long Range Model S and Model X in the past month.

The Model S Long Range was officially launched on Tesla China’s official website on January 28th, with a price tag of 799,990 yuan, and is expected to be delivered in the first quarter of 2022.

In response to the price increase, some netizens said, “I don’t care about other models. I’m waiting for Model 3’s price to drop to 200,000 yuan.”

At present, the Model S and Model X are produced by Tesla’s U.S. factories. Elon Musk, Tesla’s CEO, previously said that the main reasons for the price increases are the tight supply chain and high raw material cost.

“Tesla’s pricing strategy is very simple. We hope more consumers buy new energy vehicles at the lowest price,” the company said in a statement.

Earlier this month, Pandaily reported that Tesla China had lowered the price of its popular Model 3 to settle at a new overall post-subsidies price tag of 235,900 yuan, aiming to adjust to the actual situation of cost fluctuations.

SEE ALSO: Tesla China Drops Model 3 Price as Shift to More Cost-Effective Batteries Continues

Tesla recently delivered a brilliant second-quarter financial report. The company’s total revenue in the second quarter was as high as $11.958 billion, while the auto business revenue exceeded $10 billion for the first time. The net profit of GAAP was $1.142 billion, up 998% year-on-year.

In the second quarter, its new vehicle delivery exceeded 200,000 units, setting a quarterly sales record.