Tesla Model Y might raise prices next month, car maker’s salesperson

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Tesla might increase Model Y price next month, according to the electric car maker’s salesperson cited by the local media.

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Tesla Model 3 and Model Y

This week the referral scheme offering 3,500 yuan (480 USD) reward to the Model Y buyers will probably end. The Model Y might increase the price afterwards. However, it will not be a lot, 8,000-10,000 yuan (1,100-1,400 USD). The electric vehicle manufacturer might even cancel rear-wheel drive version (RWD) altogether, said the salesperson reminding that the SUV’s RWD version was offered for the Chinese market only to begin with.

Tesla Model 3 and Model Y offering on official website

As for orders, Model Y still makes the majority of the orders, said the salesperson and added that the Model Y already has everything the new version of Model 3 added. Despite this, the price of Model 3 will probably not change this year and will stay at the current 259,900 yuan (35,650 USD), said the salesperson. The statement contradicts local media reports, when Model 3 started pre-sales, which cited Tesla’s source saying the price might be cut when the deliveries start in October.

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The new Tesla Model 3

Compared to the car maker’s electric SUV model, the 2024 Model 3 only added ambient lighting, seat ventilators and rear-seat screens, and with the referral scheme included, the price difference is at 500 yuan (70 USD). In short, Model 3 does not look too competitive compared to the Tesla’s SUV.

The new Tesla Model 3

Model Y’s residual value is relatively high. At the moment, the electric SUV offers more advantages than the electric sedan. If bought for 260,000 yuan, after a year it can be sold for 220,000-240,000 yuan (30,200-33,000 USD). If Model 3 cuts the price by then, one might just replace it with Model 3 without any additional expenses, explained the salesperson.

In August, Tesla sold close to 65,000 units. Model Y sold 51,117 cars, while Model 3 saw 13,577 units delivered. The first week of September, saw the same sales pattern. According to the insured units data, Tesla delivered close to 12,000 units. Model Y made majority of the insured units with 10,188 cars delivered taking the first spot among SUVs, while Model 3 sold 1,541 units.

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The new Tesla Model 3

On September 1st, new version of Model 3 started pre-sales. The modified version is the model’s first facelift since its introduction six years ago. The old Tesla Model 3 started at 231,900 yuan in China, so the new mid-life facelift Model 3 is 12% more expensive. This is contrary to the previous reports that the new Model 3 will start at 200,000 yuan (27,400 USD).

Source: D1EV

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