Tesla Model 3, Y Long Range Get Price Hike in China

EV giant Tesla Inc TSLA has hiked the prices of its Model 3 and Model Y Long Range versions in China as per the company website by as much as 2,500 yuan.

What Happened: The price of the Model 3 Long Range in China has been raised by 1,500 yuan (approx. $206 USD), settling the vehicle at a new price point of 297,400 yuan. Similarly, the Model Y Long Range has witnessed a price surge of 2,500 yuan (approx. $344 USD), raising its starting price to 302,400 yuan.

The prices of all other variants of the vehicles, as well as other Tesla models, remain unchanged on the company's China website.

Why It Matters: Despite the price hike, the Model Y Long Range continues to be cheaper than Oct. 2022 when Tesla first started cutting prices in China.

Late last month, the performance version of the Model Y saw its price increase by 14,000 yuan. The price hikes on the Long Range are marginal in comparison.

Photo via Shutterstock

This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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