Prices for the basic model 3 raised… Third time in last 3 weeks
It has been reported that American electric vehicle manufacturer Tesla has again raised the price of electric vehicles in the Chinese market.
According to the South China Morning Post (SCMP) on the 14th, Tesla raised the price of the basic Shanghai-made Model 3 by 1,500 yuan to 261,400 yuan (about 47.59 million won) through Weibo, and the entry-level model Y by 2,500 yuan to 26. It was announced that it would be raised to 6,400 yuan (about 48.49 million won).
After announcing price increases twice in the past three weeks, Tesla raised prices again today. Previously, Tesla raised the price of Model Y Performance by 4% on the 27th of last month, and on the 9th, it increased the prices of Model 3 and Model Y Long Range by 0.8%.
Tesla’s actions are in contrast to Chinese electric vehicle brands competing for discounts.
“Some Chinese competitors will benefit from Tesla’s price increases,” said David Zhang, a visiting professor at Huanghe University of Science and Technology. “Some consumers are expected to move away from the Model 3 and Model Y.”
According to Tesla China, the company regularly adjusts the prices of locally produced vehicles based on production costs, SCMP explained.
Tesla’s presence in the Chinese market is shrinking.
According to data from the China Passenger Car Association, Tesla’s Shanghai Gigafactory delivered 28,626 vehicles to Chinese customers last month, a 34.2% decrease from the previous month. It is said that deliveries in September also fell by 32.8% compared to the previous month.
Last year, Tesla lost its top spot in sales of new energy vehicles (electric vehicles, hybrid vehicles, and hydrogen vehicles) in the world to BYD, a leading Chinese electric vehicle company. In addition, sales in China last month were only 72,115 units, down 2% from the previous month, and the gap with BYD, which exceeded 300,000 units for the first time in history in the same month, is said to have widened further.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.