On November 14th, according to Tesla China Weibo, the selling price of the Model 3/Y rear wheel drive version officially increased from that day onwards. The price of the Model 3 rear wheel drive version has increased by 1500 yuan to 261400 yuan, while the Model Y rear wheel drive version has increased by 2500 yuan to 266400 yuan.
Previously, on November 9th, Tesla China adjusted the price of the Model Y all wheel drive long range version to 302400 yuan, up 2500 yuan from 299900 yuan. The selling price of the Model 3 Long Range Edition has been adjusted to 297400 yuan, with an increase of 1500 yuan.
Regarding the price increase of the Model 3 and Y Long Range Edition, Tesla has stated that after the Model Y High Performance Edition increased its price by 14000 yuan on October 27th, it does plan to make corresponding adjustments to the prices of other versions of the Model Y. The Model Y has completed the evolution and upgrade of the entire series of models on October 1st, with the addition of multi-color ambient lights in the interior, and the use of updated technology fabric materials in the dashboard and front door trim panels. The exterior has been updated with a 19 inch twin star wheel hub design.
It is worth noting that at the beginning of this year, Tesla significantly reduced prices in multiple countries and regions such as China, Japan, South Korea, the United States, and Europe, involving best-selling models such as the Model 3 and Model Y, becoming the main reason for the high sales growth in the first two quarters of this year. Musk has expressed his willingness to lower the prices of electric vehicles again during turbulent times, although this will affect the company's gross profit margin, but he is willing to sacrifice gross profit margin for sales growth
The widespread price reduction has significantly reduced Tesla's gross profit margin, with a gross profit margin of 17.9% in the third quarter, lower than the 18.7% in the first half of the year. But Musk said that as loan interest rates continue to rise, Model 3 and Model Y, which focus on the people-oriented market, are becoming unaffordable to users. Tesla needs to continue to lower prices to reduce users' monthly repayment pressure, so that more people can afford it, "Musk said. This means that Tesla may further compress profits.