Tesla China appears to be on the cusp of increasing the price of its popular Model Y crossover, a move that follows closely on the heels of a recent price hike for the Model Y Performance, which saw an increase of RMB 14,000 (approximately $1,920).
Keen observers in China’s automotive industry have taken note of numerous Tesla sales representatives updating their WeChat status to signal an impending price hike for the Model Y within the country. These Tesla employees reportedly emphasized that the upcoming price adjustment would be an extension of the RMB 14,000 increase implemented for the Model Y Performance just last month.
This information was corroborated by the local media outlet Jiemian, which referenced a statement from Tesla China, affirming their plans to modify the prices of various Model Y versions. Tesla China currently offers three distinct variants of the Model Y, including the base Rear Wheel Drive (RWD), the Long Range Dual Motor All Wheel Drive (AWD), and the Performance edition.
The current base prices for these Model Y variants stand at RMB 263,900 (approximately $36,200), RMB 299,900 (about $41,200), and RMB 363,900 (roughly $50,000), respectively. Prior to the recent RMB 14,000 price adjustment, the Model Y Performance was listed with a price of RMB 349,900 (around $48,000).
While Tesla’s Chinese staff have alluded to an impending price increase, and Tesla China itself has acknowledged this in statements, the specific timing and magnitude of the price changes remain undisclosed. Such an announcement may serve as an incentive for potential customers to make their Model Y purchase sooner to secure the current lower price.
The Model Y stands as Tesla’s best-selling vehicle and achieved the distinction of becoming the world’s best-selling car in Q1 of the current year. A significant portion of the Model Y’s sales success can be attributed to China, which explains Tesla’s dedication to enhancing the appeal of this all-electric crossover for domestic consumers. Last month, the company introduced a minor update for the Model Y, which featured ambient cabin lighting, a new dashboard trim, and fresh wheel designs.