Tesla raises Model Y prices in China

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Tesla raises Model Y prices in China Tesla raises Model Y...

Luke Pereira

17/02/2023

A Model Y in China will now cost you S$60,766 after the price increase

SHANGHAI

Tesla raised prices of performance and long-range versions of its Model Y electric vehicle (EV) in China on Friday, according to its Chinese website.

The starting prices of the two versions of Model Y in China increased by 2,000 yuan each to 311,900 yuan (S$60,766) and 361,900 yuan (S$70,507), respectively. This is Tesla’s second price increase since lowering pricing on all Model 3 and Model Y vehicles in its second-largest market by 6% to 14% in early January.

Here’s our review of the Tesla Model Y in Singapore.

The performance Model Y is still 9% cheaper than before the price reductions, while the long-range model is 13% cheaper. The price drops had fueled demand, but the Model 3’s advantage in China had started to diminish, with home-grown brands like BYD scooping out chunks of Tesla’s Chinese market share.

Tesla also increased the price of the Model Y Performance in the United States by $1,000 (S$1,339) on Tuesday, while lowering the price of the rear-wheel drive Model 3 sedan by $500 (S$669).

About the Author

Luke Pereira

CarBuyer's content producer loves producing entertaining, relatable content. He spends all year waiting around for Mariah Carey. Rumour has it he was married twice and is 'Luke Perry' incarnate are unfounded. @lukeypereira

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