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.
