Tesla increased the price of the Model Y’s 7-seater option by $500. The Model Y with 7 seats now costs $3,000. Before Tesla raised the price, the Model Y’s 7-seat option was $2,500.
As everyone settles into 2024, Tesla has started rolling out price changes in the United States and China. In the US, Tesla hasn’t changed the prices of the actual cars so far. Tesla China’s vehicles are a whole different story.
Tesla China implemented price cuts to Giga Shanghai’s Model 3 sedan and Model Y crossover vehicles. The Texas-based automaker updated its Model 3 order page and decreased the prices of the Rear Wheel Drive (RWD) and Dual-Motor All Wheel Drive (AWD) variants by 3.87% and 5.93%, respectively.
As of this writing, the Tesla Model 3 Highland RWD starts at RMB 245,900, while the Dual-Motor AWD costs RMB 285,900 before options.
Meanwhile, the Model Y RWD’s price dropped from RMB 266,400 to RMB 306,400. Tesla also cut the price of the Model Y Long Range Dual-Motor AWD from RMB 258,900 to RMB 299,900.
Tesla maintains a good position in China’s electric vehicle auto industry through its competitive prices. The US car maker’s main competition in China is BYD.
Tesla’s price cuts in China have led to a price war against other local EV makers. Interestingly enough, Chinese automakers seem to apply the same strategy as Tesla in Europe. Chinese automakers are selling their EVs in Europe for such low prices that European car makers find difficult to match. The situation has culminated in a trade war between Europe and China.
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