The Chinese market has witnessed a recent increase in the prices of Tesla Model 3 and Model Y models. This hike specifically applies to the refreshed version of the Model 3 rear-wheel drive and the rear-wheel drive version of the Model Y. Notably, the starting prices for these two models have experienced increments of 1,500 yuan and 2,500 yuan, resulting in adjusted prices of 261,400 yuan ($36,000) and 266,400 yuan ($36,700), respectively. Consequently, all Tesla models available for purchase in the Chinese market have seen a collective price surge within two weeks.
Tesla sales staff say they consider this increase a ‘price correction.’ They attribute it to both the simultaneous growth in Tesla’s sales and the escalating production costs caused by heightened pressure on the production line. The sales staff firmly believe that these price hikes are unavoidable. Furthermore, they disclosed that, based on information they’ve received, prices may continue to rise in the future.
Currently, the market faces a scarcity of these products. The official website reports an extension of the delivery cycle for the Model Y to 2-8 weeks, and a similar extension for the refreshed Tesla Model 3 to 2-9 weeks. Analysts note that the Shanghai Gigafactory has already supplied products to the Asia-Pacific region and European markets. As the company has secured sales volume dominance in many countries for the next year, analysts anticipate a persistent extension of the delivery cycle.
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