Within a month, Tesla China experienced its fourth price adjustment.
On November 21st, according to Tesla China's official Weibo account, the selling price of the Model Y Long Range Edition was increased by 2000 yuan to 304400 yuan from now on. Adding to the price adjustment ten days ago, the Model Y Long Range Edition has accumulated a price increase of 4500 yuan twice, from 299000 yuan to over 300000 yuan.
Since the end of October, the domestic Model 3/Y model series has undergone three price adjustments, with an increase of between 1500 yuan and 14000 yuan.
On October 27th, Tesla announced a price increase of 14000 yuan for the Model Y high-performance version sold in China, with an adjusted price of 363900 yuan.
On November 9th, Tesla raised the price of the Model 3/Y Long Range Edition to 302400 yuan, up from 299900 yuan previously, with an increase of 2500 yuan; The price of the Model 3 Long Range Renewal has been adjusted to 297400 yuan, from 295900 yuan previously, with an increase of 1500 yuan;
On November 14th, the price of the Model 3/Y rear wheel drive version was officially raised, with the price of the Model 3 rear wheel drive version increasing by 1500 yuan to 261400 yuan and the Model Y rear wheel drive version increasing by 2500 yuan to 266400 yuan.
The launch of the new model has to some extent boosted Tesla's demand. On September 1st of this year, Tesla officially released a new version of Model 3; On October 1, for the Chinese Mainland market, Model Y also made minor changes, adding multi-color atmosphere lights, updating the dashboard trim, etc. In the fourth quarter, both the modified Model 3 and Model Y have been delivered.
At present, the pick-up cycle for Model Y is 2-8 weeks, and the new version of Model 3 is 2-9 weeks.
At the stage of impacting sales at the end of the year, both traditional car companies and new forces are increasing their promotional efforts. However, Tesla has bucked the trend and raised prices, making the gross profit margin return to health an important factor in Tesla's price increase.
The Secretary General of the Passenger Transport Association, Cui Dongshu, commented, "Tesla's move to increase the prices of Model Y and Model 3 is a price adjustment plan made by Tesla due to increased profit pressure
In the third quarter, Tesla achieved a revenue of 23.35 billion US dollars, a year-on-year increase of 9%, lower than analysts' expectations of 24.06 billion US dollars; The net profit was 1.853 billion US dollars, a year-on-year decrease of 44%, lower than the market expectation of 2.231 billion US dollars; The gross profit margin is 17.9%, which is also lower than expected.
It is worth noting that Tesla not only operates in the opposite direction, but also raises prices several times like "squeezing toothpaste", which has led more and more industry insiders to believe that Tesla is stimulating the "waiting party" to place orders.
At the same time, there are increasing views that Tesla will rise first and then fall. Many industry insiders expect that after experiencing multiple small price increases, Tesla will conduct a price reduction at the end of the year to boost sales. The sales manager of a car company told Pengpai News, "Tesla's gross profit is under pressure, but it doesn't mean it doesn't have room for price reduction. There is room for price increases to be targeted at wait-and-see customers, and it's not impossible to lower prices to attract price sensitive customers
According to data from the China Association of Automobile Manufacturers, Tesla's Shanghai Super Factory delivered 72100 electric vehicles in October, which is the same as the 71700 vehicles delivered in the same period last year. The cumulative delivery volume in 2023 has reached 771000 vehicles, surpassing the full year of 2022. According to the financial report, the annual production capacity of Shanghai's super factory has been upgraded from 750000 vehicles to 950000 vehicles.