EV giant Tesla Inc TSLA has once again increased the price of its Model Y Long Range version in China, marking the third price hike in less than three weeks.
What Happened: The cost of the Model Y Long Range has seen a recent uptick of 2000 yuan (approximately $282), placing the vehicle at a revised price of 306,400 yuan.
Notably, all other variants of the Model Y and other Tesla models listed on the company's China website maintain their existing price points.
Why It Matters: This marks the third consecutive increase in prices for the Long Range Model Y within the month. Tesla initiated the upward adjustments with a 2500 yuan hike, followed by another 2000 yuan increase, and now an additional 2000 yuan raise.
Consequently, the vehicle is now 6500 yuan or around $916 more expensive than at the beginning of November.
Despite this series of price adjustments, it’s worth noting that the Model Y Long Range remains more affordable than its October 2022 pricing when Tesla first implemented price reductions in China.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
