Tesla has hiked the price of its top-end Model Y by 14,000 yuan (about $1,910) in China. The starting price of the Model Y Performance in China has been raised to 363,900 yuan, as announced through Weibo. This is a much larger increase than the $500 hike for the Long Range in the U.S. market.
The Model Y is sold in three versions in China: RQD, Long Range, and Performance. The price of the Performance version has been increased by an amount equivalent to 14% of its price, which is 14,000 yuan.
Tesla’s Gigafactory in Shanghai has the largest annual production capacity of 950,000 units. Operations started at the end of 2019, and local production of Model 3 began in January 2020, followed by the Model Y in January 2021.
On October 1, Tesla launched a new Model Y in the Chinese market, featuring various updates including ambient lighting in different colors, a new dashboard trim, and new 19-inch wheels. The updates improved the driving range and acceleration of the Model Y Standard, while the Long Range saw an increase in driving range.
According to Tesla’s Chinese website, the current waiting time for both the Model Y Standard and Performance in China is 2-6 weeks, while the Long Range is 6-8 weeks.
Tesla unveiled the new Model 3 on September 1, and official sales of the new Model 3 began in China on October 19. Tesla announced that deliveries of the new sedan began in China on October 26.
In September, Tesla sold 35,566 exported units and 43,507 units delivered within China, totaling 74,073 Chinese-made vehicles. The Model Y accounted for 95.22% of Tesla’s retail sales in China in September, with 41,428 units sold. The Model 3 accounted for 4.78% of sales in China in September, with 2,079 units sold.
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