Tesla has implemented a minor price adjustment for its Model 3 and Model Y Rear Wheel Drive (RWD) versions in China. The entry-level Model 3 RWD experienced a modest increase of RMB 1,500, resulting in a new starting price of RMB 261,400 (approximately $35,800). Meanwhile, the Model Y RWD saw a slightly higher price hike of RMB 2,500, setting its new starting price at RMB 266,400 (around $36,500).
Before the adjustment, the Model 3 Rear Wheel Drive was priced at RMB 259,900 (about $35,600) without additional options, while the Model Y RWD had a starting price of RMB 263,900 (approximately $36,100) before options.
It's worth noting that the recent price adjustments for the Model 3 and Model Y Rear Wheel Drive (RWD) versions can be viewed as an extension of the price increases implemented last week. In the prior adjustments, Tesla China focused on the Long Range Dual Motor All Wheel Drive (AWD) variants of the Model 3 and Model Y.
In the recent round of price adjustments, the Model 3 Long Range Dual Motor All Wheel Drive (AWD) was newly priced at RMB 297,400 (approximately $40,700), and the Model Y Long Range Dual Motor AWD was listed with a starting price of RMB 302,400 (around $41,400) before additional options.
Tesla's pricing strategy in China has displayed notable fluctuations in recent months. In August, the company decreased the starting prices of the Model Y Long Range and Model Y Performance by RMB 14,000. However, on October 27, the Model Y Performance saw a corresponding increase in its starting price by RMB 14,000. Subsequently, on November 9, the Model 3 Long Range and Model Y Long Range experienced price hikes of RMB 1,500 and RMB 2,500, respectively.
China remains a crucial market for Tesla, and the electric vehicle manufacturer appears to be performing well in the region. In October, Tesla achieved sales of 72,115 units in China, with 43,489 vehicles exported and 28,626 sold domestically. The breakdown indicates that the Model 3 contributed 7.94% to Tesla's October sales in China, while the Model Y accounted for the remaining 92.06%.
Despite these adjustments, the delivery timelines for Tesla's Model 3 and Model Y in China have not undergone changes. The Model 3 and Model Y Rear Wheel Drive (RWD), along with the Model Y Performance, maintain an estimated delivery date of 2-6 weeks. On the other hand, the Model 3 Long Range and Model Y Long Range have estimated delivery dates of 6-9 weeks and 6-8 weeks, respectively.