Tesla Raises Prices of Entry-Level Model 3 and Model Y in China

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Tesla Inc (NASDAQ:TSLA)’s models have experienced several price hikes in China this year, and now the company has acted again.
Information on Tesla’s China website shows that the latest price for the entry-level China-made Model 3 – the rear-wheel-drive version – is CNY 255,652, up by CNY 4,752 from the previous price of CNY 250,900.
Tesla’s website clearly lists this as the post-subsidy price, stating that the model’s pre-subsidy price is CNY 266,740, with private customers receiving CNY 15,840 in state subsidies in China and CNY 11,088 for non-private consumers or used for operation.
These subsidies will not be available to customers who add features to their vehicles that result in a price above CNY 300,000.
The price of the Model 3 Performance remains unchanged at CNY 339,900.
This comes just five days after the entry-level Model 3 price saw a price increase in China.
On November 19, information on Tesla’s China website showed that the price of the entry-level Model 3 was raised by CNY 15,000 to CNY 250,900 from the previous CNY 235,900.
The range of the model has increased from the original NEDC 468 km to 556 km under CLTC, but its 0-100 km/h acceleration time has changed from the previous 5.6 seconds to 6.1 seconds.
In addition to the entry-level Model 3, the price of the entry-level Model Y – the rear-wheel-drive version – has been increased by the same CNY 4,752, from CNY 276,000 previously to CNY 280,752.
The prices of the dual-motor all-wheel-drive Model Y Long Range and Model Y Performance remain unchanged at CNY 347,900 and CNY 387,900, respectively.
Similarly, information on Tesla’s website shows that the price shown for the entry-level Model Y is the post-subsidy price, which is CNY 291,840 before the subsidy.
Because the entry-level Model Y is sold out of available capacity this year and China’s subsidies for new energy vehicles will be reduced next year as planned, Tesla lists the amount of subsidies available to consumers of this model for next year.
If a private consumer purchases the model, the subsidy is CNY 11,088, and CNY 7,761 for non-private consumers or used for operation.
Likewise, if the price of the vehicle is higher than CNY 300,000 due to additional features, the customer will not be eligible for these subsidies.
Deliveries of the China-made Tesla Model Y Performance will begin in the near future, the company said on Weibo.
“We welcome new owners to the Tesla family to join us in accelerating the world’s transition to sustainable energy,” Tesla said, without providing more information.
This article was first published by Phate Zhang on CnEVPost, a website focusing on new energy vehicle news from China.
Article By Phate Zhang, EqualOcean, an investment research firm focusing on China.
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