Tesla has implemented a minor price increase for the Model 3 and Model Y Rear Wheel Drive (RWD) in China. The entry-level Model 3 RWD saw a slight increase of RMB 1,500, bringing its starting price to RMB 261,400 (about $35,800). The Model Y RWD, on the other hand, received a RMB 2,500 price hike, pushing the vehicle’s starting price to RMB 266,400 (about $36,500).
Previously, the Model 3 Rear Wheel Drive was offered at a price of RMB 259,900 (about $35,600) before options. The Model Y RWD was offered at a starting price of RMB 263,900 (about $36,100) before options.
Interestingly enough, the price adjustments to the Model 3 and Model Y RWD could be seen as a continuation of the price hikes that were implemented for the two vehicles last week. Last week, Tesla China rolled out price adjustments for the Model 3 and Model Y, but they were for the vehicles’ Long Range Dual Motor All Wheel Drive (AWD) variants.
With last week’s price adjustments, the Model 3 Long Range Dual Motor AWD was listed with a starting price of RMB 297,400 (about $40,700), while the Model Y Long Range Dual Motor AWD was listed with a starting price of RMB 302,400 (about $41,400) before options.
Amidst the recent price adjustments, delivery timelines for the Tesla Model 3 and Model Y in China remain unchanged. The Model 3 and Model Y RWD, as well as the Model Y Performance, are listed with an estimated delivery date of 2-6 weeks. The Model 3 Long Range and Model Y Long Range are listed with an estimated delivery date of 6-9 weeks and 6-8 weeks, respectively.
Tesla’s pricing strategy in China has been quite dynamic in recent months. In August, the company lowered the starting prices of the Model Y Long Range and Model Y Performance by RMB 14,000. However, on October 27, the Model Y Performance’s starting price was raised by RMB 14,000. On November 9, the Model 3 Long Range and Model Y Long Range received RMB 1,500 and RMB 2,500 price increases.
China is a key market for Tesla, and so far, the electric vehicle maker seems to be doing fairly well. Tesla’s October sales in China reached 72,115 units, with 43,489 vehicles exported and 28,626 sold domestically. The Model 3 contributed 7.94% to Tesla’s October sales in China, while the Model Y accounted for 92.06%.
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