Tesla Increases Price of Model Y Performance in China Due to Fluctuations in Manufacturing Costs

model y
(Source: Tesla)

On September 11, Tesla China’s official website showed that the price of its Model Y Performance car was raised by 10,000 yuan ($1,552) to reach a total of 387,900 yuan, while the delivery time is expected to be the fourth quarter of this year. Users who have already paid the deposit will only need to pay the original price.

Tesla’s public relations official said that all information is subject to Tesla’s official Weibo account and official website, and the price increase is mainly due to fluctuations in manufacturing costs.

The prices of the Model Y Standard Range and Long Range remain unchanged, starting from 276,000 yuan and 347,900 yuan, respectively.

In fact, Tesla has already raised the price of its Model Y in the Chinese market before. On March 24, the prices of the high-performance version and the long-range version were both raised by 8,000 yuan.

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In June, Tesla CEO Elon Musk blamed supply chain pressure for the incremental price increases the company made to its vehicles over the previous several months.

Recently, the prices of many Tesla vehicles have been adjusted in China. On July 30, the price of the Model 3 Standard Range was lowered by 15,000 yuan to a total of 235,900 yuan. On August 4, the price of the long-range version of the Model S was raised from the previous amount of 829,990 yuan to 859,990 yuan, while the price of the Plaid version remained unchanged at 1,059,990 yuan.

According to the latest data released by the China Passenger Car Association, the sales volume of Tesla’s Model Y in August was 11,576 units, while the sales volume of the Model 3 was less than 5,000 units, due to the delivery of the 276,000 yuan Model Y Standard Range in August.