Tesla China implements Model 3 and Model Y price increase

Just as expected, Tesla China announced earlier today that the Model 3 and Model Y Long Range variants are receiving a slight price adjustment. The Model 3 Long Range received a RMB 1,500 ($206) price increase, while the Model Y Long Range saw a price adjustment of RMB 2,500 ($343). 

As of writing, the Model 3 Long Range now starts at RMB 297,400 ($40,819), while the Model Y Long Range now starts at RMB 302,400 ($41,507) before options. Previously, the Model 3 Long Range started at RMB 295,900 ($40,615), while the Model Y Long Range started at RMB 299,900 ($41,164) before options. 

The new prices of the Model 3 and Model Y were posted on the two vehicles’ official order pages on Thursday. Interestingly enough, the update matches previous reports about the price adjustment, some of which suggested that the price hike would take effect on Thursday, November 9. 

So far, Tesla China has only raised the price of the Model 3 Long Range and Model Y Long Range. The Model 3 Rear Wheel Drive, the Model Y Rear Wheel Drive, and the Model Y Performance did not receive a price increase for now. Speculations are abounding, however, that the Model 3 RWD and Model Y RWD may also see a price adjustment in the future. 

Tesla’s recent price adjustments to the Model 3 Long Range and Model Y Long Range may hint at the company’s release strategy for its vehicle price increases in the future. Prior to this round of adjustments, Tesla would typically just update its website and post an announcement on social media about its cars’ new prices. At times, social media announcements are not posted at all. 

This time around, however, Tesla staff from China hinted at a Model Y price increase on social media days before it was implemented. The company also confirmed to local news outlets that it was planning a price increase. Local motoring news site Auto Home was reportedly even provided details, such as the date when the price increase will be implemented, as well as the fact that the adjustments will also be rolled out for the Model 3 Long Range.