Tesla Raises Model Y and Model 3 Prices in China

Tesla Model 3 Tesla Model 3

Tesla Inc. raised the prices of its two car models for the second time in a short time due to high demand in China.

Quoted from Bloomberg, the company owned by Elon Musk announced a 3.9 percent increase for the entry-level Model 3 to 265,652 yuan (about $41,678) after subsidies. Meanwhile, prices for the base edition Model Y will rise 7.5 percent to 301,840 yuan (about $47,356).

The price increase for the Model Y will at the same time prevent this model from receiving subsidies from the government because the price is no longer below 300,000 yuan.

Unfortunately, Tesla did not provide a reason behind this increase. The first increase occurred on November 24 last year.

Tesla is known as an automotive company that does not have a public relations division.

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