Tesla Adjusts China Prices: Model 3 And Model Y RWD Versions See Incremental Hikes

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

What Happened: The price of the Model 3 rear-wheel drive in China has been raised by 1,500 yuan (approx. $206 USD), settling the vehicle at a new price point of 261,400 yuan. Similarly, the Model Y RWD has witnessed a price surge of 2,500 yuan (approx. $344 USD), raising its starting price to 266,400 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 RWD continues to be cheaper than Oct. 2022 when Tesla first started cutting prices in China. The refreshed Model 3 RWD, priced 12% higher than the former Model 3, was launched in China only recently in the third quarter.

Last week, Tesla also hiked the prices of Model 3 Long Range in the country by 1,500 yuan and the Model Y Long Range price by 2,500 yuan.

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