Tesla raised the prices of the refreshed Model 3 and Model Y base models (RWD) in China. It is the second price hike in just six days, as Tesla raised prices for the Long Range models last Thursday.
Tesla China website now shows the refreshed Model 3 and Model Y Rear Wheel Drive being 1,500 yuan (200 USD) and 2,500 yuan (350 USD) more expensive, respectively. The current prices of RWD entry-level models after the hike are as follows:
- Model 3 RWD: 261,400 yuan (35,800 USD)
- Model Y RWD: 266,400 yuan (36,500 USD)
As you noticed, Model 3 and Model Y prices are nearly on par in China. Both Model 3 and Model Y are refreshed versions. The new Model 3, codenamed Highland, got much media coverage, unlike the Model Y minor update, which is China only and brings more substantial power, improved acceleration, and ambient lighting.
The price hike from last Thursday affected the higher trim level Long Range AWD Model 3 and increased its price by 1,500 yuan. Model Y Long Range AWD increased the price by 2,500 yuan. The prices of the refreshed Long Range models are as follows:
- Model 3 Long Range AWD: 297,400 yuan (40,800 USD)
- Model Y Long Range AWD: 302,400 yuan (41,500 USD)
The Model Y also has a top trim Performance version whose price remains unchanged at 363,900 yuan. The new Model 3 has no Performance version, and Tesla hasn’t announced if they intend to produce one.
This comes after months of price decreases, which started last November when Tesla slashed the prices of its lineup by 11% and continued in January when they cut the price by 13% on some models, effectively starting an EV price war in China as many local competitors had to follow the move.
Tesla sold 2,273 Model 3 and 26,353 Model Y in October in China.